California · Unemployment Insurance Code - UIC

UIC §1061: (a) For purposes of this article, the reserve account attributable to a transferred business shall also be transferred to, and combined with, the reserve account attributable to the employer to whom t

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What this law says, in plain English

This statute requires that when a business transfers, its reserve account must be transferred to and combined with the reserve account of the receiving employer.

Read the full statutory text

(a) For purposes of this article, the reserve account attributable to a transferred business shall also be transferred to, and combined with, the reserve account attributable to the employer to whom that business is transferred, if both of the following are satisfied: (1) An employer transfers all or part of its business or payroll to another employer. (2) At the time of transfer, both employers are under common ownership, management, or control. (b) This section shall be applied to meet the minimum requirements contained in any guidance or regulations issued by the United States Department of Labor.

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