Section 801.5 Of Article 5. Elections For Financing Unemployment Insurance Coverage From California Unemployment Insurance Code >> Division 1. >> Part 1. >> Chapter 3. >> Article 5.
801.5
. To the extent permitted by federal law, a nonprofit
organization which before the operative date of this section elected
reimbursement financing pursuant to Section 801 and which has a
favorable reserve account on the operative date of this section shall
not be liable for the reimbursement of benefits pursuant to the
election to the extent that the cost of benefits does not exceed the
amount in the reserve account. 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.