Successor employers; period of coverage
Sec. 3. (a) This section is subject to the provisions of
IC 22-4-11.5.
(b) Any employer subject to this article as successor to an
employer pursuant to the provisions of IC 22-4-7-2(a) or
IC 22-4-7-2(b) shall cease to be an employer at the end of the year in
which the acquisition occurs only if the board finds that within such
calendar year the employment experience of the predecessor prior to
the date of disposition combined with the employment experience of
the successor subsequent to the date of acquisition would not be
sufficient to qualify the successor employer as an employer under the
provisions of IC 22-4-7-1. No such successor employer may cease to
be an employer subject to this article at the end of the first year of the
current period of coverage of the predecessor employer. If all of the
resources and liabilities of the experience account of an employer are
assumed by another in accordance with the provisions of
IC 22-4-10-6 or IC 22-4-10-7, such employer's status as employer
and under this article is hereby terminated unless and until such
employer subsequently qualifies under the provisions of IC 22-4-7-1
or IC 22-4-7-2 or elects to become an employer under sections 4 or
5 of this chapter.
(c) If no application for termination, as herein provided, is filed
by an employer and four (4) full calendar years have elapsed since
any contributions have become payable from such employer, then
and in such cases the board may terminate such employer's
experience account.
(Formerly: Acts 1947, c.208, s.903; Acts 1951, c.295, s.7; Acts 1957,
c.299, s.14; Acts 1971, P.L.355, SEC.16.) As amended by
P.L.98-2005, SEC.4.
Last modified: May 27, 2006