23-707. Employment security administration fund

A. A special fund known as the employment security administration fund is established.

B. All monies deposited or paid into the employment security administration fund are appropriated and made available to the commission. All monies in the fund except monies withdrawn from the unemployment trust fund under section 903 of the social security act, as amended, for payment of administrative expenses shall be expended solely for the purposes and in the amounts found necessary by the secretary of labor of the United States and the employment security commission for the proper and efficient administration of this chapter.

C. The employment security administration fund shall consist of all monies appropriated by this state and all monies received from the United States or any agency thereof, including the United States department of labor or from any other source for such purpose. Monies received from the railroad retirement board as compensation for services or facilities supplied to the board shall be paid into the fund.

D. All monies in the employment security administration fund shall be deposited, administered and disbursed in the same manner and under the same conditions and requirements as provided by law for other special funds, except that monies in the employment security administration fund shall not be commingled with other state funds but shall be maintained in a separate account on the books of the depository. The monies shall be secured by the depository in which they are held to the same extent and in the same manner as required by the general depository law of the state. Any balance in the fund shall not lapse at any time, but shall be continuously available to the commission for expenditure consistent with this chapter. Notwithstanding any provision of this chapter, all monies requisitioned from the unemployment trust fund for the payment of administrative expenses and deposited in this fund pursuant to paragraph 3 of subsection E of section 23-704 shall remain part of the unemployment compensation fund and shall be used only in accordance with the conditions specified in subsection E of section 23-704.

E. The state treasurer shall be liable on his official bond for the faithful performance of his duties in connection with the employment security administration fund provided for under this chapter. Liability on the official bond shall exist in addition to liability upon any separate bond. All sums recovered on a surety bond for losses sustained by the employment security administration fund shall be deposited in the fund.