S.P. 297 - L.D. 869
An Act to Amend Maine's Payroll Processing Laws
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 10 MRSA §1495-A, sub-§3 is enacted to read:
3. Proof of liability insurance. Each registrant shall provide to the State Tax Assessor proof of one of the following, at the registrant's option, in an amount 2 times the highest weekly payroll processed by the registrant in the preceding year or $5,000,000, whichever is less:
A. Fidelity bond;
B. Employee dishonesty bond;
C. Third-party fidelity coverage; or
D. Liability insurance, including crime coverage.
Sec. 2. Effective date. This Act takes effect January 1, 2000.
Effective January 1, 2000.
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