Shareholder owning 1/3 of company shares not considered in employment relationship with company director.

The Insurance Court dismissed the claim that the company director was in an employment relationship with the company. The director owned one share while his wife held twenty shares out of a total of thirty, giving them a combined 33% stake. The court ruled that such significant shareholding precluded the existence of a subordinate employment relationship, as the director exercised ownership rights rather than performing subordinate duties.