J. MILLARD TAWES, GOVERNOR 43

during the calendar year immediately preceding the calendar year
in which such calendar quarter occurs by all employers subject to
this article, which wages were subject to contributions and reported
to the Executive Director, the minimum rate for any employer who
has a rate computed pursuant to subsection (c) (3) of this section,
shall, for the next succeeding quarter and for the remainder of the
then current fiscal year, be 2. 7 percent, which shall also be subject
to adjustment as provided in subsection (c) (4) (i) hereof. Employers
whose rates as determined under the other provisions of subsection
(c) of this section are in excess of 2. 7 percent before adjustment
shall continue to pay at such rates as are required under said other
provisions.

Provided, that under no circumstances shall any employer be
required to pay contributions at a rate_: including the adjustment
percentage provided in Section (c)(4)(i) of this section, of more
than 4. 2 percent.

Provided further that, for the purpose of making any computation
under this subsection, any amount which has been credited to Mary-
land's account under Section 903 of the Social Security Act, as
amended, and which has been appropriated for expenses of adminis-
tration, whether or not withdrawn from said account, shall be
excluded from the total amount available for benefits in the fund.

(5) If an employer subject to this article shall transfer his entire
business, or a department, section, division or any other substantial
portion of the business, which is readily definable, by sale or other-
wise, to another employing unit, the Executive Director shall combine
the experience-rating records of the two employing units and shall
for purposes of rate determination transfer to the successor employer
the payroll record and the benefit charges of the predecessor. Pro-
vided, that the payroll record and benefit charges of the predecessor
shall be charged to the new employing unit in the same proportion
as the payroll record of the unit being transferred has to the total
business of the predecessor.

The successor employer shall be liable for the contributions for
such business from the date the transfer occurred.

If the successor is an employer at the time of the transfer, and has
been assigned a contribution rate pursuant to the provisions of this
subsection, he shall continue to pay contributions at such previously
assigned rate from the date the transfer occurred through the next
June 30.

If the successor is not an employer at the time of the transfer and
acquires the business of one employer or the businesses of two or
more employers with the same rate he shall pay contributions at the
rate assigned to the predecessor employer or employers from the date
the transfer occurred through the next June 30.

If the successor is not an employer at the time of the transfer, and
simultaneously acquires the businesses of two or more employers with
different rates of contributions, his rate from the date the transfer
occurred through the next June 30 shall be a recomputed rate based
on the combined experience of his predecessors as of the regular
computation date for the fiscal year in which the transfer occurred.

In all cases, from and after July 1 following the transfer, the
successor's rate of contribution for each fiscal year shall be based