1. (1) When the amount in the Fund is determined to be insufficient to pay in full all accumulated wage claims determined to be eligible for payment, such wage claims will be prorated.

2. (2) The computation of prorated amount shall be made according to the following formula:

   1. (a) Amount Available for Payments divided by Total Amount of Eligible Wage Claims = Z
   2. (b) Eligible Amount of Individual Wage Claim times Z = Prorated Amount to Be Paid to Wage Claimant
3. (3) Wage claims paid from the Fund on a prorated basis are limited to prorated amount paid, and no employee will be paid any additional amount on the same wage claim from the Fund.

Statutory/Other Authority

ORS 652.414(6)

Statutes/Other Implemented

ORS 652.414

History

BL 9-1996, f. & cert. ef. 10-8-96
BL 5-1986, f. 6-20-86, ef. 7-1-86