2006 Utah Code - 31A-38-104 — Authorization -- Monies transferred for reserves.

     31A-38-104.   Authorization -- Monies transferred for reserves.
     (1) The Department of Workforce Services may:
     (a) convert the bridge program to the state program through any of the following, or combination of the following, that the Department of Workforce Services considers best serves the needs of qualified participants:
     (i) a contract with a licensed insurance company authorized to do business in the state;
     (ii) through any other arrangement acceptable under the Trade Reform Act; or
     (iii) a self-insurance program through a third party administrator as provided in Subsection 31A-38-103(3)(b)(ii);
     (b) (i) in cooperation with the Division of Finance, establish an appropriate state fund for the purpose of operation of the state program; and
     (ii) transfer the balance of any monies received under the bridge program into this fund; and
     (c) obligate up to $2,000,000 of the Workforce Services Special Administrative Expense Fund as reserves for the state program.
     (2) The monies in the fund created under Subsection (1)(b) are:
     (a) nonlapsing; and
     (b) restricted to the purposes of the state program established under this chapter.
     (3) The monies in Subsection (1)(c) may be:
     (a) used until the reserves in the state program become adequate; and
     (b) transferred into or out of any fund created under Subsection (1)(b).

Amended by Chapter 221, 2005 General Session