(A) The transferee shall become a successor in interest by operation of law where:
(1) There is a transfer of all of the transferor's trade or business located in the state of Ohio; and
(2) At the time of the transfer the transferor is liable under Chapter 4141. of the Revised Code.
(B) The transferee, as successor in interest, shall assume all of the resources and liabilities of the transferor's account. The director shall revise the contribution rates of the transferee to reflect the result of the successorship.
(C) The director shall not approve a transfer of experience or contribution rates of the transferee or transferor for any contribution period with respect to which the director has determined contribution rates for the transferee or transferor pursuant to division (G) of section 4141.24 or section 4141.48 of the Revised Code.
119.032 review dates:
Promulgated Under: 4141.14
Statutory Authority: 4141.13
Rule Amplifies: 4141.24, 4141.48
Prior Effective Dates: 1/1/74, 5/29/90, 1/15/01, 1/26/02, 1/1/03, 1/1/06