§40-3-601. Establishment of unemployment compensation fund.
144 words·~1 min read·
/ok/title-40-labor/40-3-601A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
ESTABLISHMENT OF UNEMPLOYMENT COMPENSATION FUND. There is hereby established as a special fund, separate and apart from all public moneys or funds of this state, the Unemployment Compensation Fund, which shall be administered by the Commission exclusively for the purpose of this act. This fund shall consist of
(1)all contributions collected pursuant to this act, together with any interest thereon collected pursuant to this act;
(2)all penalties collected pursuant to the provisions of this act;
(3)interest earned upon any moneys in the fund;
(4)any property or securities acquired through the use of moneys belonging to the fund;
(5)all earnings of such property or securities; and
(6)all other moneys received for the fund from any other source. All moneys in the fund shall be mingled and undivided. Added by Laws 1980, c. 323, § 3-601, eff. July 1, 1980.