Page 65

No. 76 Page 65 of 74 2023

VT LEG #371318 v.1 section and section 1380 of this title, may file a joint application to the Commissioner 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 the employers. Each application shall identify and authorize a group representative to act as the group’s agent for the purpose of this section. Upon his or her approval of the application, the Commissioner shall establish a group account for such the employers effective as of the beginning of the calendar quarter in which he or she the Commissioner receives the application and shall notify the group’s representative of the effective date of the account. The account shall remain in effect for not less than two years and thereafter until terminated at the discretion of the Commissioner or upon application by the group. Upon establishment of the account, each member of the group shall be liable for payments in lieu of contributions with respect to each calendar quarter in the amount that bears the same ratio to the total benefits paid in such the 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 the member in such the quarter bear to the total wages paid during such the quarter for service performed in the employ of all members of the group. The Board shall prescribe regulations adopt rules as it deems necessary with respect to applications for establishment, maintenance, and termination of group accounts that are authorized by this subdivision, for addition of new members to, and withdrawal of active members from, such accounts, and for