Section 646IAC5-6-5. Payments to corporate officers, directors, and members of a board of directors

   (a) An officer of a corporation who receives remuneration for his or her services as a corporate officer from a corporation is in employment during the entire term of his or her office, and the remuneration shall be considered as wages.

  (b) A member of the board of directors of a corporation is not considered in employment, and fees paid for attendance at meetings of the board of directors shall not be deemed wages.

  (c) A member of a board of directors is in employment, however, if he or she performs services for remuneration for the corporation other than those required by attendance at, and participation in, the meetings of the board of directors.

  (d) The remuneration considered wages in subsection (a) shall be deemed wages paid by a PEO, and the corporate officer of a client business entity shall be deemed the employee of the PEO, when the services performed as a corporate officer are subject to a written agreement between the PEO and the client business entity, as provided in 646 IAC 5-1-14. (Department of Workforce Development; 646 IAC 5-6-5; filed Apr 26, 2011, 11:23 a.m.: 20110525-IR-646100464FRA)