Section 25-4-30 Administration and composition. - Alabama Statutes

Section 25-4-30

Administration and composition.

There shall be as a special fund, separate and apart from all public moneys or funds of this state, an Unemployment Compensation Trust Fund, which shall be administered by the director exclusively for the purposes of this chapter without liability on the part of the state beyond the amounts paid into and earned by the fund. This fund shall consist of:

(1) All contributions paid in or collected under this chapter;

(2) Interest earned upon any moneys in the fund;

(3) Any property or securities acquired through the use of moneys belonging to the fund;

(4) All earnings of such property or securities;

(5) Any money received from the federal unemployment account in the unemployment trust fund in accordance with Title XII of the Social Security Act;

(6) All money credited to this state's account in the unemployment trust fund pursuant to Section 903 of the Social Security Act, as amended; and

(7) All money received for the fund from any other source.

(Acts 1939, No. 497, p. 721; Code 1940, T. 26, §197; Acts 1945, No. 283, p. 449, §2; Acts 1957, No. 303, p. 395, §1; Acts 1963, 2nd Ex. Sess., No. 151, p. 340, §1.)