§383-64  Credits for contributions;destruction of employer accounts and records.  (a)  The director shallmaintain a separate account for each employer and shall credit the employer'saccount with all the contributions paid by the employer as of the date ofpayment.  Nothing in this chapter shall be construed to grant any employer orindividual in the employer's service prior claims or rights to the amounts paidby the employer into the fund.

(b)  If an employer's account becomes inactivebecause services constituting employment are no longer performed for theemployer and the account remains inactive for five consecutive calendar years,the account shall become void and may be destroyed, and, notwithstanding anyprovision to the contrary, the employer shall have no claim or right to thecontributions credited to the account. [L 1939, c 219, §7(c)(1); am L 1941, c304, §1, pt of subs 21; RL 1945, §4249; am L 1949, c 316, §1(3); RL 1955,§93-63; am L 1964, c 55, §5; HRS §383-64; am L 1969, c 14, §1; gen ch 1985]