S.D. Admin. R. 47:06:02:07

Current through Register Vol. 51, page 30, September 3, 2024

Section 47:06:02:07 - Employer's report of change or discontinuance of ownership, trade name, or business

An employer who terminates a business; transfers or sells all or a substantial part of the assets of an organization, trade, or business to another; or changes the trade name of the business or its address shall, within 30 days after the termination, transfer, or change of name or address, give notice in writing to the secretary of the Department of Labor and Regulation. The employer shall report whether the experience rating account is or is not to be transferred.

An individual, firm, or corporation who acquires all or a substantial part of the trade, business, or assets of a liable employer shall, within 30 days after the acquisition, notify the secretary of the Department of Labor and Regulation of that fact, furnishing the information on forms prescribed by the department.

For the purpose of this section, a "substantial part" of a business shall be considered any department, unit, or establishment of the business.

S.D. Admin. R. 47:06:02:07

SL 1975, ch 16, § 1; 9 SDR 81, 9 SDR 124, effective 7/1/1983; 39 SDR 127, effective 1/23/2013.

General Authority: SDCL 61-3-2.

Law Implemented: SDCL 61-3-2, 61-5-42.