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§ 8-403. Composition and use

West's Annotated Code of MarylandLabor and Employment

West's Annotated Code of Maryland
Labor and Employment
Title 8. Unemployment Insurance (Refs & Annos)
Subtitle 4. Funds (Refs & Annos)
Part I. Unemployment Insurance Fund (Refs & Annos)
MD Code, Labor and Employment, § 8-403
§ 8-403. Composition and use
Currentness
Composition
(a) The Unemployment Insurance Fund shall consist of:
(1) contributions;
(2) reimbursement payments collected under Subtitle 6, Part III of this title;
(3) interest earned on money in the Fund;
(4) property or securities acquired with money that belongs to the Fund;
(5) money earned from the property or securities;
(6) money received from the Federal Unemployment Account in the Unemployment Trust Fund in accordance with Title XII of the Social Security Act;1
(7) money credited to the State Unemployment Trust Fund Account under § 903 of the Social Security Act; and
(8) money received for the Fund from any other source.
Commingling required
(b) Money in the Unemployment Insurance Fund shall be commingled.
Use
(c) The Unemployment Insurance Fund shall be used only for the purposes of this title.

Credits

Added by Acts 1991, c. 8, § 2, eff. Oct. 1, 1991.
Formerly Art. 95A, § 10.

Footnotes

1
Aug. 14, 1935, ch. 531, 49 Stat. 620, codified at 42 U.S.C.A. § 301 et seq.
MD Code, Labor and Employment, § 8-403, MD LABOR & EMPLY § 8-403
Current through legislation effective through April 25, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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