South Carolina § 41-33-40 Three separate accounts within fund; collections credited to clearing account.

South Carolina Statutes

§ 41-33-40 — Three separate accounts within fund; collections credited to clearing account.

South Carolina § 41-33-40

Title 41LABOR AND EMPLOYMENT

Ch. 33EMPLOYMENT AND WORKFORCE—FUNDS

This text of South Carolina § 41-33-40 (Three separate accounts within fund; collections credited to clearing account.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.C. Code Ann. § 41-33-40 (2026).

Text

All money in the fund must be comingled and undivided, but the State Treasurer shall maintain within the fund three separate accounts:

(a)a clearing account;

(b)an unemployment trust fund account; and (c) a benefit account. All money payable to the fund, upon receipt of the money by the department, must be forwarded to the State Treasurer who immediately shall credit it to the clearing account.

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Legislative History

HISTORY: 1962 Code SECTION 68-304; 1952 Code SECTION 68-304; 1942 Code SECTION 7035-89; 1936 (39) 1716; 1939 (41) 487; 1941 (42) 369; 2010 Act No. 146, SECTION 56, eff March 30, 2010. Effect of Amendment The 2010 amendment substituted "department" for "Commission"; and made other nonsubstantive changes.