§ 8-407. Federal advances

Latest version.

   (a) Application by Secretary. -- In accordance with and to obtain the advantages under Title XII of the Social Security Act the Secretary:

   (1) may apply for an advance to the Unemployment Insurance Fund; and

   (2) has responsibility for repayment of the advance.

(b) Interest on payments. -- Interest required to be paid on an advance under subsection (a) of this section:

   (1) shall be paid in a timely manner; and

   (2) may not be paid directly or indirectly from contributions or from the Unemployment Insurance Fund.

HISTORY: An. Code 1957, art. 95A, § 10, 12; 1991, ch. 8, § 2.

                    
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