341.490 Unemployment insurance fund.
261 words·~1 min read·
/ky/chapter-341/341-490A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)There shall be a special fund known as the unemployment insurance fund which
shall be administered separate and apart from all public money or funds of this state.
This fund shall consist of:
(a)All contributions, payments in lieu of contributions, and money collected
under this chapter, except any surcharge; interest collected on a delinquent
surcharge; money received from any source related to payment of interest on
advances under Title XII of the Social Security Act; fines, penalties, and
interest on delinquent contributions collected under KRS 341.300; and service
capacity upgrade payments collected under KRS 341.243;
(b)Interest earned upon any money in the fund;
(c)Any property or securities acquired through use of money belonging to the
fund;
(d)All earnings of such property or securities;
(e)All money received from the federal unemployment account in the
unemployment trust fund in accordance with Title XII of the Social Security
Act as amended;
(f)All money credited to the account of this state in the unemployment trust fund
in accordance with Section 903 of the Social Security Act as amended; and
(g)All money received from the federal government as reimbursement, pursuant
to Section 204 of the Federal-State Extended Unemployment Compensation
Act of 1970.
(2)All moneys in the fund shall be commingled and undivided.
(3)Subject to the provisions of this chapter, the secretary may have full power,
authority, and jurisdiction over the fund, including all money and property or
securities belonging thereto, and may perform any act necessary or convenient in
the administration thereof consistent with this chapter.