3528 ARTICLE 95A

(c) (1) An employing unit, not otherwise subject to this Article,
which files with the Board its written election to become an employer sub-
ject hereto for not less than two calendar years, shall, with the written
approval of such election by the Board, become an employer subject hereto
to the same extent as all other employers, as of the date stated in such
approval, and shall cease to be subject hereto as of January 1 of any
calendar year subject to such two calendar years, only if at least thirty
days prior to such 1st day of January, it has filed with the Board a writ-
ten notice to that effect. '

(2) Any employing unit for which services that do not constitute em-
ployment as defined in this Article are performed, may file with the Board
a written election that all such services performed by individuals in its'
employ in one or more distinct establishments or places of business shall
be deemed to constitute employment for all the purposes of this Article
for not less than two calendar years. Upon the written approval of such
election by the Board, such services shall be deemed to constitute employ-
ment subject to this Article from and after the date stated in such approval.
Such services shall cease to be deemed, employment subject hereto as of
January 1 of any calendar year subsequent to such two calendar years, only
if at least thirty days prior to such 1st day of January, such employing, unit
has filed with the Board a written notice to that effect.

Unemployment Compensation Fund.

1936 (Dec. Sp. Sess.), ch. 1, sec. 9. 1937, ch. 311. 1939, ch. 278, sec. 9.

9. (a) (Establishment and Control.) There is hereby established
as a special fund, separate and apart from all public moneys or funds
of this State, an unemployment compensation fund, which shall be admin-
istered by the Board exclusively for the purposes of this Article. This
fund shall consist of (1) .all contributions collected under this Article,
together with any interest thereon collected pursuant to Section 14 of this
Article; (2) all fines and penalties collected pursuant to the provisions of
this Article; (3) interest earned upon any moneys in the fund; (4) any
property or securities acquired through the use of moneys belonging to the
fund; and (5) all earnings of such property or securities. All moneys in
the fund shall be mingled and undivided.

(b) (Accounts and Deposit.) The State Treasurer shall be ex officio
the Treasurer and custodian of the Fund, who shall administer such fund
in accordance with such regulations as the Board shall prescribe. He shall
maintain within the fund three separate accounts : (1) A clearing account,
(2) an unemployment trust fund account, and (3) a benefit account. All
moneys payable to the fund, upon receipt thereof by-the Board, shall be
forwarded to the Treasurer who shall immediately deposit them in his
name as Treasurer of the said Fund in the clearing account. Refunds
payable pursuant to Section 14 of this Article may be paid from the
clearing account by the Treasurer under the direction of the Board. After
clearance thereof, all other moneys in the clearing account shall be imme-
diately 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 re-
lating to the deposit, administration, release, or disbursement of moneys
in the possession or custody of this State to the contrary notwithstanding.