NRS612.605. Creation; receipt and use of money.

      1.  There is hereby created the Unemployment Compensation Administration Fund as a special revenue fund.

      2.  All money which is deposited or paid into this Fund is hereby appropriated to the Administrator.

      3.  All money in the Fund may be expended solely for the purpose of defraying the cost of the administration of this chapter.

      4.  All money received from the Department of Labor for the Fund pursuant to Section 302 of the Social Security Act (42 U.S.C. § 502) may be expended solely for the purposes and in the amounts found necessary by the Department of Labor for the proper and efficient administration of this chapter.

      5.  In addition to money deposited pursuant to NRS 612.617, the Fund consists of:

      (a) All money appropriated by this State.

      (b) All money received from the United States of America or any agency thereof, including the Department of Labor, the Railroad Retirement Board, and the United States Employment Service.

      (c) All money received from any other source, for such purpose.

      6.  Money received from the Railroad Retirement Board as compensation for services or facilities supplied to the Board must be paid into the Fund.

      7.  Except as otherwise provided in NRS 612.607, any balances in the Fund do not lapse at any time and are continuously available to the Administrator for expenditure consistent with this chapter.

      8.  Money in the Fund must not be commingled with other state money, but must be maintained in a separate account on the books of the depositary. The account must be secured by the depositary in which it is held to the same extent and in the same manner as required by the general depositary laws of the State, and collateral pledged must be maintained in a separate custody account.

      9.  All sums recovered on any official bond for losses sustained by the Unemployment Compensation Administration Fund must be deposited in the Unemployment Compensation Administration Fund.

      10.  All money requisitioned and deposited in the Fund pursuant to NRS 612.617 must be used in accordance with the conditions specified in NRS 612.617.

      [Part 13:129:1937; A 1939, 115; 1941, 412; 1943, 239; 1949, 257; 1955, 698]—(NRS A 1969, 221; 1977, 46; 1993, 1842; 1995, 1739)