Section 50-7-406 - Rating system for reorganized businesses

The division of employment security shall attempt to develop a system of rating employers that will ensure that an employer who goes out of business and reorganizes as a new business with substantially the same owners shall not be rated as a new employer, but the business shall retain the same rating it maintained under the old business.Acts 1983, ch. 439, § 15; 1999, ch. 520, § 41.