35A-4-505.Employment Security Administration Fund.
(1) (a) There is created in the General Fund a restricted account known as the
Employment Security Administration Fund.
(b) All moneys which are deposited or paid into this fund shall be continuously available
to the department for expenditure in accordance with the provisions of this chapter and Chapter 3,
Employment Support Act, and shall not lapse at any time or be transferred to any other fund.
(c) All moneys in this fund which are received from the Secretary of Labor under Title III
of the Social Security Act, 42 U.S.C. 501 et seq. shall be expended solely for the purposes and in
the amounts found necessary, after reasonable notice and opportunity for hearing to the division,
by the Secretary of Labor for the proper and efficient administration of this chapter.
(2) The fund shall consist of all moneys appropriated by this state, all moneys received
from the United States of America, or any agency thereof, including the Secretary of Labor, and
all moneys received from any other source for such purpose, and shall also include any moneys
received from any agency of the United States or any other state as compensation for services or
facilities supplied to such agency, any amounts received pursuant to any surety bond or insurance
policy or from other sources for losses sustained by the Employment Security Administration
Fund or by reason of damage to equipment or supplies purchased from moneys in such fund, and
any proceeds realized from the sale or disposition of any equipment or supplies which may no
longer be necessary for the proper administration of this chapter.
(3) (a) All moneys in this fund shall be deposited, administered, and disbursed, in
accordance with the directions of the department.
(b) The state treasurer shall pay all warrants drawn upon it by the division in accordance
with rules prescribed by the department.
(4) The state treasurer shall be liable on his official bond for the faithful performance of
his duties in connection with the employment security administration fund provided for under this
chapter. Such liability on the official bond shall be effective immediately upon the enactment of
this provision, and such liability shall exist in addition to any liability upon any separate bond
existent on the effective date of this provision, or which may be given in the future. All sums
recovered on any surety bond for losses sustained by the employment security administration fund
shall be deposited in said fund.
(5) If any moneys received after June 30, 1941, from the Secretary of Labor under Title
III of the Social Security Act, or any unencumbered balances in the employment security
administration fund as of that date, are found, after reasonable notice and opportunity for hearing
to the division, by the Secretary of Labor to have been lost or been expended for purposes other
than, or in amounts in excess of, those found necessary by the Secretary of Labor for the proper
administration of this chapter, the moneys shall be replaced within a reasonable time by moneys
appropriated for this purpose from the general funds of this state to the Employment Security
Administration Fund for expenditure as provided in Subsection (1). Upon receipt of notice of
such a finding by the Secretary of Labor, the division shall promptly report the amount required
for such replacement to the governor.
Amended by Chapter 1, 1998 General Session
Download Code Section Zipped WordPerfect 35A04_050500.ZIP 3,132 Bytes