Vermont Statutes Title 21 Sec. 1388
Terms Used In Vermont Statutes Title 21 Sec. 1388
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Commissioner: means the Commissioner of Labor established by this chapter, or his or her authorized representative. See
- Contributions: means the money payments to the State Unemployment Compensation Fund required by this chapter. See
- said: when used by way of reference to a person or thing shall apply to the same person or thing last mentioned. See
§ 1388. Invalidity of acts
If the federal Social Security Act or the Federal Unemployment Tax Act shall be finally held and determined to be wholly invalid or shall be repealed, then this chapter shall become wholly inoperative and ineffective except only that thereafter the Commissioner shall continue in office for the purpose of:
(1) recovering any monies on deposit with the Secretary of the Treasury of the United States and the redistribution to contributors of all monies on hand in proportion to contributions received, said redistribution to be under the direction of a presiding judge of a Superior Court upon an action brought by the Commissioner against five or more employers; and
(2) doing any other act or thing necessary or proper to liquidate assets and discharge obligations of the office. (Amended 1959, No. 329 (Adj. Sess.), § 22, eff. March 1, 1961; 1961, No. 210, § 15, eff. July 11, 1961.)