New York A04994 amends laws to allow employees to hold shareholders and top members of non-publicly traded corporations liable for wage theft.

New York A04994 amends the civil practice law and rules, business corporation law, limited liability company law, and labor law. It allows employees of non-publicly traded corporations to hold shareholders personally liable for wage theft. Employees must give shareholders written notice within 180 days of service termination. Shareholders who pay more than their pro rata share can seek contribution from other shareholders. The bill also allows employees to hold the ten members with the largest ownership interests in a limited liability company personally liable for wage theft.

New York A04994 amends laws to allow employees to hold shareholders and top members of non-publicly traded corporations liable for wage theft.

New York A04994 amends the civil practice law and rules, business corporation law, limited liability company law, and labor law. It allows employees of non-publicly traded corporations to hold shareholders personally liable for wage theft. Employees must give shareholders written notice within 180 days of service termination. Shareholders who pay more than their pro rata share can seek contribution from other shareholders. The bill also allows employees to hold the ten members with the largest ownership interests in a limited liability company personally liable for wage theft.