Section 1051.5 Of Article 5. Transfer Of Reserve Accounts From California Unemployment Insurance Code >> Division 1. >> Part 1. >> Chapter 4. >> Article 5.
1051.5
. To the extent permitted by federal law, Sections 1051,
1052, and 1053 are applicable to acquisitions by a nonprofit
organization which has elected reimbursement financing pursuant to
Section 801 and the director shall transfer the reserve account of
the predecessor employer to the successor nonprofit organization.
Notwithstanding Section 1029, the reserve account shall not be
canceled and the cost of benefits otherwise chargeable to the
organization shall be charged to the reserve account until it is
exhausted.