Section 1027.1 Of Article 4. Reserve Accounts From California Unemployment Insurance Code >> Division 1. >> Part 1. >> Chapter 4. >> Article 4.
1027.1
. On the computation date in 1966, the portion of each
negative reserve balance which has not previously been charged to the
balancing account shall be transferred to that account and the
employer's reserve account thereupon canceled. The computation on
such date for calendar year 1967 shall be based upon the status of
the employer's account prior to such transfer and cancellation
subject to the requirements of Section 982. The computation for each
calendar year beginning with calendar year 1968 shall be in
accordance with the requirements of Section 982 and an employer whose
reserve account has been canceled under this section shall be
considered as first becoming a subject employer on July 1, 1966.