Page:United States Statutes at Large Volume 53 Part 2.djvu/914

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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.