Section 61-6-23.4 - Interest on benefit not repaid--Interest paid into employment security contingencyfund. - South Dakota Statutes

61-6-23.4. Interest on benefit not repaid--Interest paid into employment security contingency fund. Any benefit erroneously paid which is not repaid shall bear interest at the rate of Category C rate of interest under subdivision 54-3-16 (3). If the claimant was at fault in causing the overpayment, interest applies from the date of the determination of overpayment until payment plus accrued interest is received by the department. If the overpayment was without fault of the claimant, interest shall apply only to any balance unpaid six months after the determination of overpayment and shall continue until payment plus accrued interest is received by the department. Interest collected pursuant to this section shall be paid into the employment security contingency fund.

Source: SL 1987, ch 388, § 4.