A. Two or more employers that have become liable for payments in lieu oftaxes, in accordance with the provisions of § 60.2-501, may file a jointapplication to the Commission for the establishment of a group account forthe purpose of sharing the cost of benefits paid that are attributable toservice in the employ of such employers. Each such application shall identifyand authorize a group representative to act as the group's agent for thepurposes of this section. Upon approval of the application, the Commissionshall establish a group account for such employers effective as of thebeginning of the calendar quarter in which it receives the application andshall notify the group's representative of the effective date of the account.Such account shall remain in effect for not less than two years andthereafter until terminated at the discretion of the Commission or uponapplication by the group.
B. Upon establishment of the account, each member of the group shall beliable for payments in lieu of taxes with respect to each calendar quarter inthe amount that bears the same ratio to the total benefits paid in suchquarter that are attributable to service performed in the employ of allmembers of the group as the total wages paid for service in employment bysuch member in such quarter bear to the total wages paid during such quarterfor service performed in the employ of all members of the group.
C. The Commission shall prescribe such regulations as it deems necessary:
1. With respect to application for establishment, maintenance and terminationof group accounts that are authorized by this section;
2. For addition of new members to, and withdrawal of active members from,such accounts; and
3. For the determination of the amounts that are payable under this sectionby members of the group and the time and manner of such payments.
(1974, c. 466, § 60.1-89; 1981, cc. 248, 252; 1986, c. 480.)
A. Two or more employers that have become liable for payments in lieu oftaxes, in accordance with the provisions of § 60.2-501, may file a jointapplication to the Commission for the establishment of a group account forthe purpose of sharing the cost of benefits paid that are attributable toservice in the employ of such employers. Each such application shall identifyand authorize a group representative to act as the group's agent for thepurposes of this section. Upon approval of the application, the Commissionshall establish a group account for such employers effective as of thebeginning of the calendar quarter in which it receives the application andshall notify the group's representative of the effective date of the account.Such account shall remain in effect for not less than two years andthereafter until terminated at the discretion of the Commission or uponapplication by the group.
B. Upon establishment of the account, each member of the group shall beliable for payments in lieu of taxes with respect to each calendar quarter inthe amount that bears the same ratio to the total benefits paid in suchquarter that are attributable to service performed in the employ of allmembers of the group as the total wages paid for service in employment bysuch member in such quarter bear to the total wages paid during such quarterfor service performed in the employ of all members of the group.
C. The Commission shall prescribe such regulations as it deems necessary:
1. With respect to application for establishment, maintenance and terminationof group accounts that are authorized by this section;
2. For addition of new members to, and withdrawal of active members from,such accounts; and
3. For the determination of the amounts that are payable under this sectionby members of the group and the time and manner of such payments.
(1974, c. 466, § 60.1-89; 1981, cc. 248, 252; 1986, c. 480.)
A. Two or more employers that have become liable for payments in lieu oftaxes, in accordance with the provisions of § 60.2-501, may file a jointapplication to the Commission for the establishment of a group account forthe purpose of sharing the cost of benefits paid that are attributable toservice in the employ of such employers. Each such application shall identifyand authorize a group representative to act as the group's agent for thepurposes of this section. Upon approval of the application, the Commissionshall establish a group account for such employers effective as of thebeginning of the calendar quarter in which it receives the application andshall notify the group's representative of the effective date of the account.Such account shall remain in effect for not less than two years andthereafter until terminated at the discretion of the Commission or uponapplication by the group.
B. Upon establishment of the account, each member of the group shall beliable for payments in lieu of taxes with respect to each calendar quarter inthe amount that bears the same ratio to the total benefits paid in suchquarter that are attributable to service performed in the employ of allmembers of the group as the total wages paid for service in employment bysuch member in such quarter bear to the total wages paid during such quarterfor service performed in the employ of all members of the group.
C. The Commission shall prescribe such regulations as it deems necessary:
1. With respect to application for establishment, maintenance and terminationof group accounts that are authorized by this section;
2. For addition of new members to, and withdrawal of active members from,such accounts; and
3. For the determination of the amounts that are payable under this sectionby members of the group and the time and manner of such payments.
(1974, c. 466, § 60.1-89; 1981, cc. 248, 252; 1986, c. 480.)
