16 LAWS OF MARYLAND. [CH. 1

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 unem-
ployment 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 State Treasurer who
shall immediately deposit them in the clearing account.
Refunds payable pursuant to section 14 of this Act 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 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 relat-
ing to the deposit, administration, release, or disbursement
of moneys in the possession or custody of this State to
the contrary notwithstanding. The benefit account shall
consist of all moneys requisitioned from this State's
account in the unemployment trust fund. Moneys in the
clearing and benefit accounts may be deposited by the
Treasurer under the direction of the Board 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 the fund. The Treasurer
shall give a separate bond conditioned upon the faithful
performance of his duties as custodian of the Fund in
an amount fixed by the Board and in a form prescribed
by law or approved by the Attorney General. Premiums
for said bond shall be paid from the administration fund.

(c) WITHDRAWALS.

Moneys shall be requisitioned from this State's account
in the unemployment trust fund solely for the payment
of benefits and in accordance with regulations prescribed
by the Board. The Board shall from time to time requi-
sition from the unemployment trust fund such amounts,
not exceeding the amounts standing to its account thereof,
as it deems necessary for the payment of benefits for a
reasonable future period. Upon receipt thereof the Trea-
surer shall deposit such moneys in the benefit account for
the payment of benefits solely from such benefit account.
Expenditures of such moneys in the benefit account and
refunds from the clearing account shall not be subject to
any provisions of law requiring specific appropriations
or other formal release by State officers of money in their