S.P. 562 - L.D. 1629
An Act to Ensure That Sales Free and Clear of Liens Through Bankruptcy Do Not Result in the Acquisition of a Predecessor Employer's Experience for the Purpose of Contribution Rate Determination
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 26 MRSA §1221, sub-§5, ¶A, as amended by PL 1979, c. 651, §45, is further amended to read:
A. The executors, administrators, successors or assigns of any employer who acquire the business of such that employer in toto shall acquire the experience of such that employer with payrolls, contributions and benefits. Effective as of the date on which such the business was acquired, the commissioner shall for purposes of rate determination transfer to the successor employer the payroll record and experience rating records of the predecessor employer. This transfer does not occur for a business purchased free and clear of liens through bankruptcy if the contribution rate for that business is greater than the state average contribution rate. In that case, the employer must be assigned the state average contribution rate.
Effective September 18, 1999, unless otherwise indicated.
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