South Carolina Code of Regulations › Chapter 47 - DEPARTMENT OF EMPLOYMENT AND WORKFORCE › Article 2 - GENERAL REGULATIONS › Section 47-17 - Information to Be Furnished with Respect to Changes in Ownership, Notification of Acquisitions, and Methods for the Transfer of Experience Rating

Current through Register Vol. 48, No. 6, June 28, 2024
A. Notification to
			 Department of discontinuance of business and changes of ownership for purposes
			 of status determination and experience rating succession.
1. Any employer who discontinues business
			 shall give notice to the Department in writing. This notice shall include the
			 exact date of such discontinuance and shall be submitted promptly and must not
			 be made later than thirty (30) calendar days after the date of
			 discontinuance.
2. Any employer who
			 by any means transfers substantially all (95 per cent or more) of its business
			 or assets thereof to another shall notify the Department in writing. This
			 notice shall be submitted promptly and must not be made later than thirty (30)
			 calendar days after the date of transfer and shall include the date on which
			 the transfer occurred, together with the name and physical and/or mailing
			 address of the employing unit to whom the transfer was made.
3. Any employer who by any means transfers a
			 portion of its business to another shall notify the Department in writing. This
			 notice shall be submitted promptly and must not be made later than thirty (30)
			 calendar days after the date of transfer and shall include the date on which
			 the transfer occurred, together with the name and physical and/or mailing
			 address of the employing unit to whom the transfer was made. The Department
			 shall be informed as to the nature and extent of each such partial transfer
			 with particular reference to the description or identification of the part of
			 the business transferred, together with a notation as to the proportion of the
			 total business thus transferred.
4.
			 Each employing unit which by any means acquires all or a portion of the
			 business, or assets thereof, of any employer, or which has acquired its own
			 business, or all of the assets thereof, from another, which at the time of such
			 acquisition was an employer subject to the Act, shall notify the Department in
			 writing promptly and must not be made later than thirty (30) calendar days
			 after such acquisition occurred. This notice shall be in such form as to
			 include:
a. From whom acquired.
b. The exact date of acquisition.
c. The portion of the business or assets of
			 the predecessor acquired by the successor.
d. Whether acquirer is an individual,
			 partnership, corporation, or a derivative thereof. If a partnership, the name,
			 address and legal domicile of each partner must appear.
5. In the event of any change of form of
			 organization between, to or from a corporation to a partnership or individual
			 ownership; from partnership to corporation or individual ownership; or from
			 individual ownership to partnership or corporation, notice of such change and
			 the date thereof shall be made to the Department by the successor organization
			 within thirty (30) calendar days after such change.
6. The employer, if a corporation, shall
			 notify the Department of any change of name, forfeiture, or cancellations of
			 charter, reincorporation, merger or consolidation, or any other change in
			 corporate entity promptly and must not be made later than thirty (30) calendar
			 days after such action.
7. The
			 employer, if a partnership, shall notify the Department of any change in the
			 partnership by reason of any person ceasing to be or becoming a partner, and
			 shall report the name of any such person and the date that he or she ceased to
			 be or became a partner not later than thirty (30) calendar days after such
			 occurrence.
8. Employers shall
			 promptly notify the Department in the event of consolidation, dissolution,
			 receivership, insolvency, bankruptcy, composition, assignment for the benefit
			 of creditors, or similar proceedings not later than thirty (30) calendar days
			 after such proceeding.