Amends the definition of the term employment as it is used in the North Carolina Workers' Compensation Act to include employment, meeting the other specified requirements, in which one or more employees are regularly employed in the same business or establishment (was, three or more employees or one or more where employees are employed in activities which involved the use or presence of radiation). Also amends the definition of the term employee as follows. Deletes current language concerning executive officers of corporations and sole proprietors or partner of a business. Deems the president, vice president, secretary, or treasurer of a corporation as an employee for the purposes of the North Carolina Workers' Compensation Act. Includes partner with respect to a partnership that employs the partner, a member or manager of a limited liability company, and a sole proprietor with respect to such sole proprietorship as employees if one or more employees are regularly employed in the same business or establishment. Allows a president, vice president, secretary, or treasurer of a corporation who owns a 10% or more membership interest in the corporation or a partner or sole proprietor to elect not to be covered by the provisions of this Article. 

Specifies that GS 97-31.1, concerning the effective date of legislative changes in benefits, does not apply to this act.