California Unemployment Insurance Code 1051.5 – To the extent permitted by federal law, Sections 1051, 1052, and 1053 …
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To the extent permitted by federal law, Sections 1051, 1052, and 1053 are applicable to acquisitions by a nonprofit organization which has elected reimbursement financing pursuant to Section 801 and the director shall transfer the reserve account of the predecessor employer to the successor nonprofit organization. Notwithstanding Section 1029, the reserve account shall not be canceled and the cost of benefits otherwise chargeable to the organization shall be charged to the reserve account until it is exhausted.
(Added by Stats. 1984, Ch. 855, Sec. 3. Effective September 5, 1984.)
Terms Used In California Unemployment Insurance Code 1051.5
- employer: means any individual or type of organization, including any partnership, joint venture, association, trust, estate, joint stock company, insurance company, corporation whether domestic or foreign, and the receiver, trustee in bankruptcy, trustee or successor thereof, and the legal representative of a deceased person. See California Unemployment Insurance Code 1058