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Session Laws, 1941
Volume 582, Page 26   View pdf image (33K)
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26 LAWS OF MARYLAND. [CH. 17

other source for such purpose, and shall also include any
moneys received from any agency of the United States or any
other State as compensation for services or facilities supplied
to such agency, any amounts received pursuant to any surety
bond or insurance policy or from other sources for losses sus-
tained by the unemployment compensation administration
fund or by reason of damage to equipment or supplies pur-
chased from moneys in such fund, and any proceeds realized
from the sale or disposition of any such equipment or supplies
which may no longer be necessary for the proper administra-
tion of this Act. All moneys in this fund shall be deposited,
administered, and disbursed, in the same manner and under
the same conditions and requirements as is provided by law
for other special funds in the State treasury, except that
moneys in this fund shall not be commingled with other State
funds, but shall be maintained in a separate account on the
books of a depository bank. Such moneys shall be secured
by the depositary in which they are held to the same extent
and in the same manner as required by the general depositary
law of the State, and collateral pledged shall be maintained
in a separate custody account. The State treasurer shall be
liable on his official bond for the faithful performance of his
duties in connection with the unemployment compensation
administration fund provided for under this Act. Such
liability on the official bond shall be effective immediately
upon the enactment of this provision, and such liability shall
exist in addition to any liability upon any separate bond exist-
ent on the effective date of this provision, or which may be given
in the future. All sums recovered on any surety bond for
losses sustained by the unemployment compensation admin-
istration fund shall be deposited in said fund.

(b) Reimbursement of Fund. If any moneys received after
June 30, 1941, from the Social Security Board under title III
of the Social Security Act, or any unemcumbered. balances in
the Unemployment Compensation Administration Fund as of
that date, or any moneys granted after that date to this State
pursuant to the provisions of the Wagner-Peyser Act, or any
moneys made available by this State or its political subdivi-
sions and matched by such moneys granted to this State pur-
suant to the provisions of the Wagner-Peyser Act, are found
by the Social Security Board, because of any action or con-
tingency, to have been lost or been extended for purposes other
than, or in amounts in excess of, those found necessary by
the Social Security Board for the proper administration of
this Act, it is the policy of this State that such moneys shall
be replaced by moneys appropriated for such purpose from the
general funds of this State to the Unemployment Compensa-
tion Administration Fund for expenditure as provided in sub-

 

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Session Laws, 1941
Volume 582, Page 26   View pdf image (33K)   << PREVIOUS  NEXT >>


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