39-51-2505. State "off" indicator -- when. There is a state "off" indicator for this state for a week if the department determines, in accordance with the regulations of the U.S. secretary of labor, that:
(1) for the period consisting of such week and the immediately preceding 12 weeks the rate of insured unemployment (not seasonally adjusted) under this chapter is less than 5%; or
(2) the average of such rates for the corresponding 13-week period ending in each of the preceding 2 calendar years is less than 120%.