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



(b)  If an employer's account becomes inactive
because services constituting employment are no longer performed for the
employer and the account remains inactive for five consecutive calendar years,
the account shall become void and may be destroyed, and, notwithstanding any
provision to the contrary, the employer shall have no claim or right to the
contributions credited to the account. [L 1939, c 219, §7(c)(1); am L 1941, c
304, §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]