HARRY HUGHES, Governor

3353

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
business 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 predecessor 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 on his experience with payrolls and benefits combined
with the experience of his predecessor or predecessors, as of the
regular computation date for that fiscal year. A successor
employer shall be deemed to have met the requirements of
subsection (c)(3) of this section if he or any one of his
predecessors has had the experience with benefit charges and
payrolls which is required by subsection (c)(3).

No successor employer shall qualify for a reduced rate of
contributions from the date of transfer by virtue of that
transfer unless he shall report the transfer and apply for a
reduced rate to the Executive Director within 120 days of the
date of the transfer in a manner and form to be prescribed by the
Executive Director. In the event the transfer is not reported
within this time, the earned rate shall be assigned to the
successor as of the first day of the first quarter after the
transfer is actually reported. Nothing in this section shall be
construed as preventing the Executive Director, where a transfer
has occurred as described above, resulting in a higher rate of
contribution to the successor employer from combining the
experience-rating record of the two employing units and for
purposes of rate determination transferring to the successor
employer the payroll record and benefit charges of the
predecessor at any time.]

(6) (I) 1. AN EMPLOYING UNIT THAT ALTERS ITS LEGAL
STATUS, SUCH AS CHANGING FROM A SOLE PROPRIETORSHIP OR A
PARTNERSHIP TO A CORPORATION, OR AN EMPLOYING UNIT THAT OTHERWISE
CHANGES ITS TRADE NAME OR BUSINESS IDENTITY WHILE REMAINING UNDER
SUBSTANTIALLY THE SAME OWNERSHIP, SHALL BE KNOWN AS A REORGANIZED
EMPLOYER.