§ 282-A:104 — Accounts and Deposit

I. The commissioner shall designate a permanent full-time classified employee of the department to be treasurer of the fund. Such designated employee shall also be the custodian of the fund. The treasurer shall administer such fund solely in accordance with the directions of the commissioner. He shall maintain 3 separate accounts within the fund:
(a) A clearing account,
(b) An unemployment trust fund account, and
(c) A benefit account.
II. All moneys payable to the fund, upon receipt thereof by the treasurer, shall be immediately deposited in the clearing account. Refunds payable pursuant to RSA 282-A:149 may be paid from the clearing account. The clearing account shall be used for deposit and clearance of any instrument which involves payment to the unemployment compensation fund and any other fund created within or without the state treasury by this chapter; upon clearance, such amount as is found to be due such other fund shall immediately be withdrawn by check and forwarded, or electronically transferred, to the custodian of such fund for deposit. After clearance thereof, all other moneys in the clearing account shall be immediately deposited with the Secretary of the Treasury of the United States of America to the credit of the account of this state in the unemployment trust fund established and maintained pursuant to section 904 of the Social Security Act, as amended, any provisions of law in this state relating to the deposit, administration, release, or disbursement of moneys in the possession or custody of this state to the contrary notwithstanding.
III. The benefit account shall consist of all moneys requisitioned from this state's account in the unemployment trust fund. Except as herein otherwise provided, moneys in the clearing and benefit accounts may be deposited by the treasurer in any bank or public depository in which general funds of the state may be deposited; but no public deposit insurance charge or premium shall be paid out of said fund. The treasurer shall give a bond conditioned upon the faithful performance of his duties, including those as custodian of the fund, in the amount of $300,000. Premiums for said bond shall be paid from the unemployment compensation and employment service administration fund. Said bond shall be purchased by the department of administrative services, division of procurement and support services.

Legislative History

1937, 178:1. 1939, 138:18. 1941, 103:31. RL 218:8. 1947, 59:18. 1949, 185:12. RSA 282:8(B). 1965, 57:1, 2. 1981, 408:3. 1995, 249:5, eff. June 19, 1995. 2014, 327:64, eff. Aug. 2, 2014.