1. (a) Except as otherwise provided in Arkansas Code § 11-10-403 of the Division of Workforce Services Law, Arkansas Code § 11-10-101 et seq., the following employing units shall cease to be employers subject to said law, either upon approval by the Director of the Division of Workforce Services of their application for termination of coverage or upon determination of the facts and decision by the director on his or her own initiative:

   1. (1) Any employing unit having its base of operations or point of control either within or without this state, but which has not had any individuals in employment throughout a period of two (2) complete calendar quarters and does not anticipate having individuals in employment in the state; and
   2. (2) Any employing unit, the base of operations or point of control of which is either within or without this state, and which terminates its business for any reason whatsoever or sells its business or assets to another.

2. (b) Each employing unit so ceasing to be an employer shall:

   1. (1) Render a report of such cessation promptly to the director, in accordance with 11 CAR § 1-211; and
   2. (2) Likewise promptly notify the director in case of any resumption of business.

Codification Notes: This section as promulgated prior to codification into the Code of Arkansas Rules provided as follows: "Rule No. 8" "This Rule is hereby amended, promulgated, and adopted by the Director, Arkansas Department of Workforce Services, pursuant to Arkansas Code 11-10-402:" "This amended Rule shall take effect and be in full force on and after January 1, 1988."