§ 11-10-714 - Exception -- Reimbursable payments.
11-10-714. Exception -- Reimbursable payments.
Notwithstanding any provisions in 11-10-713, any nonprofit organization, state hospital, state institution of higher education, or group of such employers that, prior to January 1, 1969, paid contributions required by 11-10-701, and, pursuant to 11-10-713, elected by March 5, 1971, to make payments in lieu of contributions, shall not be required to make any payment on account of any regular or extended benefits paid, on the basis of wages paid by such nonprofit organization, state hospital, state institution of higher education, or group of such employers to individuals for weeks of unemployment which begin on or after the effective date of the election until the total amount of the benefits equals the amount of the positive balance in the experience rating account of the nonprofit organization, state hospital, state institution of higher education, or group of such employers.