SECTION 240:10-5-2. Definitions

  The following words and terms, when used in this Chapter, shall have the following meaning, unless the context clearly indicates otherwise:

"Lessor Employing Unit" is defined in 40 O.S. §1-209A(a). The terms "employee leasing company" and "staff leasing company" shall have the same meaning as the term "lessor employing unit."

"Multiple Worksite Employer" means an employer that operates its business at more than one permanent location.

"Predecessor" or "Predecessor Employer" means the employer who operated a business entity before it was acquired by the successor or acquiring employer.

"Successor" or "Successor Employer" means the acquiring employer of a business entity formerly operated by a predecessor employer.

"Substantially All" as used in the context of 40 O.S. §1-208, means that the acquiring employer has acquired another employer's trade, employees, organization, business, or assets to such an extent that the acquired employer is unable to continue in business.

"Substantially Common Control" means that sixty percent (60%) of the methods or mechanisms of control of the predecessor is found to be in place and ongoing in the successor entity, as used in the context of 40 O.S. §3-111.1.

"Substantially Common Management" means that sixty percent (60%) of the management positions of the predecessor entity remain in place in management positions with the successor entity, as used in the context of 40 O.S. §3-111.1.

"Substantially Common Ownership" means that sixty percent (60%) of the ownership of the predecessor entity in terms of the number of investor/owners or capital invested, controls at least sixty percent (60%) of the ownership interest in the successor entity, as used in the context of 40 O.S. §3-111.1.

[Source: Added at 14 Ok Reg 2909, eff 7-11-97; Amended at 17 Ok Reg 1595, eff 5-25-00; Amended at 23 Ok Reg 885, eff 5-15-06; Amended at 36 Ok Reg 842, eff 7-25-19]