Section 12-5-22 - Contribution rates(a) As used in section 383-66, Hawaii Revised Statutes, the phrase "new or newly covered employer" includes employers who do not qualify for a rate other than the maximum rate because their accounts have not been chargeable with benefits throughout the twelve calendar month period ending on December 31 of the preceding calendar year, as provided under section 383-66(2), Hawaii Revised Statutes, and whose reserve balance is equal to or greater than zero.(b) The phrase "substantially all the assets" as used in section 383-66(5), Hawaii Revised Statutes, means those assets which are necessary for the continuation of the predecessor employer's organization, trade, or business as a going concern, including: (1) Real and personal property;(3) Accounts and notes receivable;(10) Any other assets necessary for the continuation of the organization, trade, or business.(c) In determining whether or not an employing unit has acquired substantially all the assets of a predecessor employer's organization, trade, or business, the department shall not be bound by any fixed percentage of the value of the predecessor employer's total assets. The department shall make its determination based upon: (1) The particular facts and circumstances in the case;(2) Whether the capacity for furnishing employment was transferred; and(3) Whether the employing unit employs all or nearly all of the predecessor employer's employees.[Eff. 12/31/84; am 9/23/89] (Auth: HRS § 383-92) (Imp: HRS § 383-66)