§ 8-404. General operation of Unemployment Insurance Fund
West's Annotated Code of MarylandLabor and EmploymentEffective: October 1, 2013
Effective: October 1, 2013
MD Code, Labor and Employment, § 8-404
§ 8-404. General operation of Unemployment Insurance Fund
(b)(1) In the Unemployment Insurance Fund, the State Treasurer shall maintain as separate accounts:
(3) The Unemployment Trust Fund Account shall be the account of the State in the Federal Unemployment Trust Fund that is established and maintained in accordance with § 904 of the Social Security Act1 notwithstanding any State law to the contrary that relates to administration, deposit, disbursement, or release of money in the custody of the State.
(c)(1) On receipt of any money payable to the Unemployment Insurance Fund, the Secretary shall ensure immediate deposit of the money in the clearing account as required by the State Treasurer.
(d)(1) Immediately after payments that are made under subsection (c)(2) and (3) of this section have cleared, the State Treasurer shall deposit all money that remains in the clearing account with the Secretary of the Treasury of the United States to the credit of the account of the State in the Unemployment Trust Fund that is established and maintained under § 904 of the Social Security Act.
Credits
Added by Acts 1991, c. 8, § 2, eff. Oct. 1, 1991. Amended by Acts 2013, c. 103, § 1, eff. Oct. 1, 2013.
Formerly Art. 95A, § 10.
Footnotes
Aug. 14, 1935, ch. 531, 49 Stat. 620, codified at 42 U.S.C.A. § 301 et seq.
MD Code, Labor and Employment, § 8-404, MD LABOR & EMPLY § 8-404
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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