Colorado § 8-77-105 Discontinuance of unemployment trust fund

Colorado Statutes

§ 8-77-105 — Discontinuance of unemployment trust fund

Colorado·Title 08 Labor and·Art. Unemployment Compensation

The provisions of
sections 8-77-101 to 8-77-104, to the extent that they relate to the unemployment
trust fund, shall be operative only so long as such unemployment trust fund
continues to exist and so long as the secretary of the treasury of the United States
of America continues to maintain for this state a separate book account of all funds
deposited therein by this state for benefit purposes, together with this state's
proportionate share of the earnings of such unemployment trust fund, from which
no other state is permitted to make withdrawals. If such unemployment trust fund
ceases to exist, or such separate book account is no longer maintained, all moneys,
properties, or securities therein belonging to the unemployment compensation fund
of this state shall be transferred t

Free access — add to your briefcase to read the full text and ask questions with AI

The provisions of
sections 8-77-101 to 8-77-104, to the extent that they relate to the unemployment
trust fund, shall be operative only so long as such unemployment trust fund
continues to exist and so long as the secretary of the treasury of the United States
of America continues to maintain for this state a separate book account of all funds
deposited therein by this state for benefit purposes, together with this state's
proportionate share of the earnings of such unemployment trust fund, from which
no other state is permitted to make withdrawals. If such unemployment trust fund
ceases to exist, or such separate book account is no longer maintained, all moneys,
properties, or securities therein belonging to the unemployment compensation fund
of this state shall be transferred to the treasurer of the unemployment
compensation fund, who shall hold, invest, transfer, sell, deposit, and release such
moneys, properties, or securities in a manner approved by the director of the
division in accordance with provisions of articles 70 to 82 of this title. Such moneys
shall be invested in readily marketable classes of securities as now provided by law
with respect to public moneys of the state. Such investment, at all times, shall be so
made that all the assets of the fund shall always be readily convertible into cash
when needed for the payment of benefits. The treasurer shall dispose of securities
or other properties belonging to the unemployment compensation fund only under
the direction of the director of the division.

Colorado § 8-77-105 (Discontinuance of unemployment trust fund) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 39: p. 588, � 1. L. 41: p. 782, � 9. CSA: C. 167A, � 9. L. 43: p. 607, � 6. L. 51: p. 811, � 8. CRS 53: � 82-7-5. C.R.S. 1963: � 82-7-5. L. 86: Entire section amended, p. 494, � 103, effective July 1.