Liability of assignee, receiver, trustee and others selling property of employing unit: Notice to Division.
1. Every assignee, receiver, trustee in bankruptcy, liquidator, Administrator, executor, sheriff, constable or any other person who sells substantially all of:
(a) The business;
(b) The stock of goods;
(c) The furniture or fixtures;
(d) The machinery and equipment; or
(e) The goodwill,
Ê of any employing unit shall, not less than 5 days before the date of the sale, notify the Division of the name and address of the person conducting the sale and the date, place and the terms of the sale, and provide the Division with a description of the property to be sold.
2. Any assignee, receiver, trustee in bankruptcy, liquidator, Administrator, executor, sheriff, constable or any other person who fails to observe the requirements of this section is personally responsible for all loss in contribution, interest or forfeit attributable to such failure to notify the Division as herein provided.
Last modified: February 25, 2006