2016 South Carolina Code of Laws
Title 41 - Labor and Employment
CHAPTER 33 - EMPLOYMENT AND WORKFORCE - FUNDS
Section 41-33-70. Deposit of moneys in clearing and benefit accounts.
Except as otherwise provided in Chapters 27 through 41 of this Title, moneys in the clearing and benefit accounts may be deposited in any depository bank in which general funds of the State may be deposited, but no public deposit insurance charge or premium shall be paid out of the fund. Moneys of the unemployment compensation fund when in the clearing account or benefit account shall not be commingled with other State funds but shall be maintained in separate accounts on the books of the depository bank or banks handling these accounts and shall be secured by such bank or banks by such securities or surety bond as are required by law of depositories of State funds and the collateral pledged shall be maintained in a separate custody account.
HISTORY: 1962 Code Section 68-307; 1952 Code Section 68-307; 1942 Code Section 7035-89; 1936 (39) 1716; 1939 (41) 487; 1941 (42) 369.
Disclaimer: These codes may not be the most recent version. South Carolina may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
