There is established a special fund, to be known as the unemployment compensation fund, which must be administered separate and apart from all public monies or funds of the State. This fund must consist of:
(1) all contributions and payments in lieu of contributions collected under Chapters 27 through 41 of this title;
(2) interest earned on any money in the fund;
(3) property or securities acquired through the use of money belonging to the fund;
(4) earnings of those properties or securities;
(5) money credited to this State's account in the unemployment trust fund pursuant to Section 903 of the Social Security Act, as amended;
(6) money received from the federal government as reimbursements pursuant to Section 204 of the Federal-State Extended Compensation Act of 1970; and
(7) money received for the fund from another source. Money in the fund must be comingled and undivided.
HISTORY: 1962 Code Section 68-301; 1952 Code Section 68-301; 1942 Code Section 7035-89; 1936 (39) 1716; 1939 (41) 487; 1941 (42) 369; 1957 (50) 580; 1969 (56) 268; 1973 (58) 248; 2010 Act No. 146, Section 53, eff March 30, 2010.
Effect of Amendment
The 2010 amendment made nonsubstantive changes to this section.
Structure South Carolina Code of Laws
Title 41 - Labor and Employment
Chapter 33 - Employment And Workforce - Funds
Section 41-33-10. Creation and content of unemployment compensation fund.
Section 41-33-20. Department to control fund.
Section 41-33-30. State Treasurer shall administer fund and issue warrants upon it.
Section 41-33-40. Three separate accounts within fund; collections credited to clearing account.
Section 41-33-45. Annual reports; trend charts; cost analysis.
Section 41-33-60. Withdrawals from unemployment trust fund shall constitute benefit account.
Section 41-33-70. Deposit of moneys in clearing and benefit accounts.
Section 41-33-90. Requisitions by department on State Treasurer.
Section 41-33-100. Deposit of amounts drawn by department; security.
Section 41-33-110. Representatives of department shall sign checks; bonds of representatives.
Section 41-33-120. Payment of refunds.
Section 41-33-170. Disposition of unused amounts in benefit payment account.
Section 41-33-180. Withdrawals from unemployment trust fund for certain federal benefits.
Section 41-33-190. Bank account for payment of certain federal benefits.
Section 41-33-200. Disposition of unused funds withdrawn for certain federal benefits.
Section 41-33-210. Management of funds upon discontinuance of unemployment trust funds.
Section 41-33-220. Liability of State Treasurer on bond.
Section 41-33-420. Deposit, administration, and disbursement of fund.
Section 41-33-430. Use of fund; requisitions and warrants.
Section 41-33-440. Expenditure of monies in fund.
Section 41-33-450. Liability of State Treasurer on bond.
Section 41-33-460. State shall replace funds lost or improperly spent.
Section 41-33-610. Department of Employment and Workforce special administration fund.
Section 41-33-710. Department of Employment and Workforce administrative contingency fund.
Section 41-33-810. Department of Employment and Workforce interest assessment fund.
Section 41-33-910. Department of Employment and Workforce integrity fund.