Whenever any employing unit acquires the organization, trade or business or substantially all the assets thereof of another employing unit which was an employer subject to this chapter, the acquiring employing unit shall give to the Department written notice of the acquisition within 7 days after the date of the transfer. The notice shall specify the acquired assets and state the value as of the date of the transfer. If such notice is not duly given or if the Department within 7 days after the receipt of such notice issues a certificate under § 3361 of this title or notifies the acquiring employing unit of the amount due by its predecessor in interest, the acquiring employing unit shall hold in trust enough of the acquired assets to pay the debt. If it fails to hold such assets in trust, the acquiring employing unit shall become liable for the debt to the extent of the value of the acquired assets.
41 Del. Laws, c. 258, § 14; 43 Del. Laws, c. 280, § 20; 19 Del. C. 1953, § 3362; 57 Del. Laws, c. 669, § 5B.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.