Delaware Code Title 19. Labor § 3362. Acquisition of business or assets of another employing unit;  liability for debt of predecessor

Whenever any employing unit acquires the organization, trade or business or substantially all the assets thereof of another employing unit which was an employer subject to this chapter, the acquiring employing unit shall give to the Department written notice of the acquisition within 7 days after the date of the transfer.  The notice shall specify the acquired assets and state the value as of the date of the transfer.  If such notice is not duly given or if the Department within 7 days after the receipt of such notice issues a certificate under § 3361 of this title or notifies the acquiring employing unit of the amount due by its predecessor in interest, the acquiring employing unit shall hold in trust enough of the acquired assets to pay the debt.  If it fails to hold such assets in trust, the acquiring employing unit shall become liable for the debt to the extent of the value of the acquired assets.