                                 CODE OF VIRGINIA

GROUP ACCOUNTS (§ 60.2-505)

A. Two or more employers that have become liable for payments in lieu of taxes,
in accordance with the provisions of &#xA7; 60.2-501, may file a joint
application to the Commission for the establishment of a group account for the
purpose of sharing the cost of benefits paid that are attributable to service in
the employ of such employers. Each such application shall identify and authorize
a group representative to act as the group&#8217;s agent for the purposes of
this section. Upon approval of the application, the Commission shall establish a
group account for such employers effective as of the beginning of the calendar
quarter in which it receives the application and shall notify the group&#8217;s
representative of the effective date of the account. Such account shall remain
in effect for not less than two years and thereafter until terminated at the
discretion of the Commission or upon application by the group.

B. Upon establishment of the account, each member of the group shall be liable
for payments in lieu of taxes with respect to each calendar quarter in the
amount that bears the same ratio to the total benefits paid in such quarter that
are attributable to service performed in the employ of all members of the group
as the total wages paid for service in employment by such member in such quarter
bear to the total wages paid during such quarter for service performed in the
employ of all members of the group.

C. The Commission shall prescribe such regulations as it deems necessary:

   1. With respect to application for establishment, maintenance and termination
   of group accounts that are authorized by this section;

   2. For addition of new members to, and withdrawal of active members from, such
   accounts; and

   3. For the determination of the amounts that are payable under this section by
   members of the group and the time and manner of such payments.

HISTORY: 1974, c. 466, § 60.1-89; 1981, cc. 248, 252; 1986, c. 480.