§ 27-3-202 — Administration of fund

Wyoming § 27-3-202

• Jurisdiction: Wyoming
• Title 27: Labor and Employment
• Ch. 3: UNEMPLOYMENT COMPENSATION
• Art. 2: FUND ADMINISTRATION

Text

(a) The department is the custodian of the fund and shall
administer the fund and issue warrants upon the fund in
accordance with the directions of the department or regulations
of the commission. The state treasurer shall maintain a clearing
account, an unemployment trust fund account and a benefit
account separately within the fund as specified by the
department.
(b) All funds payable to the fund shall be deposited by
the department or its authorized representative in the clearing
account, with receipt and acknowledgement submitted to the state
treasurer. In addition, all funds collected from the employment
support fund under W.S. 27-3-505(a) shall be deposited by the
department in the clearing account, for clearance only, and
shall not become a part of the fund. After clearance, funds
collected for the employment support fund under W.S. 27-3-505(a)
shall be deposited in the employment support fund created by
W.S. 27-3-211. Thereafter, refunds payable pursuant to W.S.
27-3-515 may be paid from the clearing account upon warrants
issued by the state auditor under regulation of the commission.
Remaining funds in the clearing account shall be immediately
deposited with the United States secretary of the treasury in
Wyoming's account within the unemployment trust fund established
pursuant to 42 U.S.C. § 1104(e).
(c) The benefit account consists of all funds withdrawn
from Wyoming's account in the unemployment trust fund. Funds
shall be withdrawn from Wyoming's account only for the payment
of benefits in accordance with regulations of the commission,
except as provided by W.S. 27-3-204. The department shall
withdraw funds from the unemployment trust fund in amounts
necessary to pay benefits for a reasonable future period.
Withdrawals from the unemployment trust fund shall not exceed
the balance of Wyoming's account within the trust fund. Upon
receipt, the department shall deposit the funds in the benefit
account, with receipt and acknowledgement submitted to the state
treasurer, and shall issue warrants for the payment of benefits
from the benefit account. Any funds remaining unclaimed or
unpaid in the benefit account after the expiration of the period
for which they were withdrawn shall be deducted from estimates
and used for the payment of benefits during succeeding periods
or deposited with the United States secretary of the treasury in
Wyoming's account in the unemployment trust fund.
(d) Except as otherwise provided by this act, the
department may deposit funds of the clearing and benefit
accounts, under regulation of the commission and separate from
other state funds, in an approved public depository in the
manner provided by W.S. 9-4-801 through 9-4-815. Any collateral
pledged for this purpose shall be separate from collateral
pledged to secure other state funds. All funds recovered from
losses sustained by the fund shall be deposited into the fund.
The department may request an examination of any return or
report of a national banking association required by this act
pursuant to 26 U.S.C. § 3305(c).
(e) Warrants for payment of benefits and refunds from the
benefit and clearing accounts shall be signed by the state
auditor and the department or its authorized agent.