(820 ILCS 405/301) (from Ch. 48, par. 381)
Sec. 301.
Termination of coverage.
A. An employing unit shall cease to be an employer as of the first day
of
January of any calendar year, only if it files with the Director, prior to
the 1st day of February of such year, a written application for termination
of coverage, and the Director finds that the employment experience of such
employer within the preceding calendar year was not sufficient to render an
employing unit an employer under the provisions of subsections A or B of
Section 205. For the purposes of this Section, the two or more employing
units mentioned in subsections C, D, E, or F of Section 205 shall be
treated as a single employing unit.
B. Notwithstanding the provisions of Section 205 and subsection A of
this Section, an employing unit shall cease to be an employer as of the
last day of a calendar quarter in which it ceases to pay wages for services
in employment and ceases to have any individual performing services for
it, provided that either it files with the Director, within 5 days after
the date
on which wage reports are due for the calendar quarter, a written
application for termination of coverage and the Director approves the
application, or the Director has determined on his or her own initiative,
pursuant to standards established under duly promulgated rules, that the
employing unit has permanently ceased to pay wages for services in employment
and permanently ceased to have any individual performing services for it. If
an employing unit's coverage is terminated under this
subsection B, the termination of coverage shall be rescinded as of the date
that the employing unit begins, later in the same calendar year or in the
succeeding calendar
year, to have any individual perform services for it on any part of any day.
(Source: P.A. 90-554, eff. 12-12-97.)
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