PUBLIC LAWS-CH. 666-AUG. 10, 1939
its findings with respect to reduced rates of contributions to a
type of fund or account, as defined in subsection (c) of this
section, which are allowable under such State law only in
accordance with the provisions of subsection (a) of this section.
After making such findings, the Board shall not withhold its
certification to the Secretary of the Treasury of such State law,
or of the provisions thereof with respect to which such findings
were made, for any taxable year pursuant to paragraph (1) or
(2) of this subsection unless, after reasonable notice and oppor-
tunity for hearing to the State agency, the Board finds the State
law no longer contains the provisions specified in subsection (a)
of this section or the State has, with respect to such taxable year,
failed to comply substantially with any such provision.
Definitions.
"(c) DEFINmTONs.-As used in this section-
Reserve account."
(1) RESERVE ACcooNT. - T he term 'reserve account' means a sepa-
rate account in an unemployment fund, maintained with respect to a
person (or group of persons) having individuals in his (or their)
employ, from which account, unless such account is exhausted, is paid
all and only compensation payable on the basis of services performed
for such person (or for one or more of the persons comprising the
group).
" Pooled fund."
"(2) POOLED FUND. - The term 'pooled fund' means an unemploy-
ment fund or any part thereof (other than a reserve account or a
guaranteed employment account) into which the total contributions
of persons contributing thereto are payable, in which all contributions
are mingled and undivided, and from which compensation is payable
to all individuals eligible for compensation from such fund.
"Patiaty pooled
"(3) PAirALLT POOLED AccoUNT. -The term 'partially pooled
account' means a part of an unemployment fund in which part of the
fund all contributions thereto are mingled and undivided, and from
which part of the fund compensation is payable only to individuals
to whom compensation would be payable from a reserve account or
from a guaranteed employment account but for the exhaustion or
termination of such reserve account or of such guaranteed employ-
ment account. Payments from a reserve account or guaranteed
employment account into a partially pooled account shall not be con-
strued to be inconsistent with the provisions of paragraph (1) or (4)
of this subsection.
loGumentacunt
"(4) GUARANTEED EMPLOYMEFNT AOCOUNT. - The term 'guaranteed
employment account' means a separate account, in an unemployment
fund, maintained with respect to a person (or group of persons)
having individuals in his (or their) employ who, in accordance with
the provisions the he State law or of a plan thereunder approved by
the State agency,
"(A) guarantees in advance at least thirty hours of work, for
which remuneration will be paid at not less than stated rates,
for each of forty weeks (or if more, one weekly hour may be
deducted for each added week guaranteed) in a year, to all the
individuals who are in his (or their) employ in, and who continue
to be available for suitable work in, one or more distinct estab-
lishments, except that any such individual's guaranty may com-
mence after a probationary period (included within the eleven
or less consecutive weeks immediately following the first week
in which the individual renders services), and
"(B) gives security or assurance, satisfactory to the State
agency, for the fulfillment of such guaranties, from which account,
unless such account is exhausted or terminated, is paid all and
only compensation, payable on the basis of services performed for
a
p
1390
[53 STAT.
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