§ 28-42-83 - Job development fund – Establishment – Sources.
SECTION 28-42-83
§ 28-42-83 Job development fund –Establishment – Sources. – (a) There is created as a restricted receipt account within the general fundcalled the job development fund, to be administered by the human resourceinvestment council, without liability on the part of the state beyond theamounts paid into and earned by the fund. This fund shall consist of:
(i) All payments received from employers and paid pursuant to§ 28-43-8.5;
(ii) All other moneys paid into and received by the fund;
(iii) Property and securities acquired by and through the useof moneys belonging to the fund; and
(iv) Interest earned upon moneys belonging to the fund.
(2) All moneys in the job development fund shall be mingledand undivided.
(b) All moneys received by the director for the jobdevelopment fund shall, upon receipt, be deposited by the director in aclearance account in a bank in this state.