Three separate accounts within fund; collections credited to clearing account
1962 Code SECTION 68-304; 1952 Code SECTION 68-304; 1942 Code SECTION 7035-89; 1936 (39) 1716; 1939 (41) 487; 1941 (42) 369; 2010 Act No. 146, SECTION 56, eff March 30, 2010.
All money in the fund must be comingled and undivided, but the State Treasurer shall maintain within the fund three separate accounts:
(a) a clearing account;
(b) an unemployment trust fund account; and
(c) a benefit account.
All money payable to the fund, upon receipt of the money by the department, must be forwarded to the State Treasurer who immediately shall credit it to the clearing account.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.