61-4-5. Receipts deposited in clearing account--Refunds from clearing account--Deposits to trust fund held by secretary of treasury.
All moneys payable to the unemployment compensation fund upon receipt thereof by the Department of Labor and Regulation shall immediately be deposited in the clearing account. Refunds payable pursuant to §§61-1-31 and 61-5-56 may be paid from the clearing account. After clearance thereof all other moneys in the clearing account shall immediately be deposited with the secretary of the treasury of the United States of America to the credit of the account of this state in the unemployment trust fund established and maintained pursuant to section 904 of the Social Security Act as amended, any provisions of law in this state relating to the deposit, administration, release, or disbursement of moneys in the possession or custody of this state to the contrary notwithstanding.
Source: SL 1936 (SS), ch 3, §9 (b); SDC 1939, §17.0819; SL 1943, ch 81; SL 1965, ch 97, §3; SL 2011, ch 1 (Ex. Ord. 11-1), §33, eff. Apr. 12, 2011; SL 2013, ch 258, §10.
Structure South Dakota Codified Laws
Title 61 - Reemployment Assistance
Chapter 04 - The Unemployment Compensation Fund
Section 61-4-1 - Fund created--General purpose.
Section 61-4-2 - Contributions, receipts, and earnings constituting fund.
Section 61-4-3 - Secretary to administer fund--Liability on bond.
Section 61-4-4 - Separate accounts within fund.
Section 61-4-6 - Requisitions on trust fund for payment of benefits and refunds.
Section 61-4-8 - Disposition of unexpended balance of requisitioned moneys.
Section 61-4-9 - Source of moneys in benefit account.
Section 61-4-10 - Depository for clearing and benefit accounts.
Section 61-4-11 - Reversion of unclaimed checks and warrants.
Section 61-4-14 - Transfer to secretary on termination of trust fund or separate accounting.