22

If any employer, whether an individual, a firm, a partnership, an association, or a corporation, transfers the business during the period for which such employer is insured, to another employer, whether an individual, a firm, a partnership, an association, or a corporation, the Manager of the State Fund may, by means of written notice and with the consent of both the originally insured employer and the employer to whom the business is assigned, cede to his successor all the rights, credits, and obligations pertaining to the employer originally insured, and in such case the name of the assignee shall be substituted for the name of the originally insured employer in all accounts, records, and other matters pertaining to the former for the remainder of the term for which the first employer was insured. History —Apr. 18, 1935, No. 45, p. 250, § 21, renumbered as § 19 on July 1, 1996, No. 63, § 3.