This interpretation is incorrect. The section you mention is a subsection of 296-128-500, which defines the minimum rates for certain professions to be exempt from overtime. In this case, computer professionals paid at least 3.5x the minimum wage and who are paid on an hourly basis are exempt. The level to qualify as exempt if an employee is paid on a salary basis is defined in 545.
This interpretation is incorrect. The section you mention is a subsection of 296-128-500, which defines the minimum rates for certain professions to be exempt from overtime. In this case, computer professionals paid at least 3.5x the minimum wage and who are paid on an hourly basis are exempt. The level to qualify as exempt if an employee is paid on a salary basis is defined in 545.