61-4-14. Transfer to secretary on termination of trust fund or separate accounting.
70 words·~1 min read·
/sd/title-61/chapter-61-4/61-4-14A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If and when the unemployment trust fund ceases to exist, or the separate book account mentioned in § 61-4-13 is no longer maintained, all moneys, properties, or securities therein belonging to the unemployment compensation fund of this state shall be transferred to the secretary of labor and regulation who shall hold, invest, transfer, sell, deposit, and release such moneys, properties, or securities in accordance with the provisions of this title.