Section 2765.200  Effect Of A Successor Employing Unit's Failure To Notify The Director Of Its Succession

a)         Pursuant to 56 Ill. Adm. Code 2760.105(b) and Section 1507 of the Act, any employing unit which succeeds to substantially all of the employing enterprises of another employing unit or which desires to acquire or retain a distinct, severable portion of the employing enterprises of an employing unit shall notify the Director within 120 days of such succession, acquisition or retention.

b)         Any employing unit which fails to comply with the provisions of subsection (a) shall not be entitled to the experience rating record of the predecessor except where such transfer would result in a higher revised contribution rate for the successor in the year of the succession.  In the situation where the employing unit fails to give notice of the succession as required by subsection (a), but where the transfer would result in a higher revised contribution rate for the successor in the year of the succession, the entire experience rating record of the predecessor shall be transferred to the successor.

(Source:  Added at 12 Ill. Reg. 17342, effective October 12, 1988)