Shareholders and Board Members

This is a guide to how Indiana handles Board Members and Shareholders. Board Members and shareholders that have stock ownership in a corporation, Indiana will treat them the same way as a corporate officer. These Board Members and Shareholders would be subject to renumeration at audit.

Board Members and Shareholders that have stock ownership in a corporation are subject to the Indiana minimums and maximums for corporate officers. If these officials do not want to be included in the audit, then they would need to complete an exclusion form for executive officers.

If a Board Member and Shareholder does not have any stock ownership in a corporation and receives a salary, then they would be included in the audit at their actual salary. The same guidelines would apply for any employee that only has a title such as CFO, COO with no stock ownership. These officials would not be permitted to exclude themselves from WC coverage.