26 §1231. Priorities under legal dissolutions or distributions
Title 26: LABOR AND INDUSTRY
Chapter 13: UNEMPLOYMENT COMPENSATION
Subchapter 7: EMPLOYER'S CONTRIBUTIONS AND COVERAGE
§1231. Priorities under legal dissolutions or distributions
In the event of any distribution of an employer's assets pursuant to an order of any court under the laws of this State, including any receivership, assignment for benefit of creditors, adjudicated insolvency, composition or similar proceeding, contributions then or thereafter due shall be paid in full prior to all other claims, except claims for wages of not more than $250 to each claimant, earned within 6 months of the commencement of the proceeding. [1975, c. 462, §9 (NEW).]
SECTION HISTORY
1975, c. 462, §9 (NEW).