Section 646IAC5-6-10. Promissory notes

Latest version.

Where an employee accepts a promissory note in lieu of wages, the:

(1) face amount of the note at the time it is delivered to and accepted by the employee is considered the amount of wages subject to contribution; and

(2) wages are considered paid at the time of the delivery and the acceptance of the note.

(Department of Workforce Development; 646 IAC 5-6-10; filed Apr 26, 2011, 11:23 a.m.: 20110525-IR-646100464FRA)

                    
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