Treasurer of fund; depositories; investments
Sec. 3. The treasurer of state shall be ex officio treasurer and
custodian of the fund and shall administer the fund in accordance
with the provisions of this article and the directions of the
commissioner and shall pay all warrants drawn upon it in accordance
with such rules as the board may prescribe. All contributions
provided for in this article shall be paid to and collected by the
department. All contributions and other money payable to the fund
as provided in this article upon receipt thereof by the department
shall be paid to and deposited with the treasurer of state to the credit
of the unemployment insurance benefit fund. The commissioner shall
immediately order the auditor of state to issue the auditor's warrant
on the treasurer of state immediately to forward such money and
deposit it, together with any money earned thereby while in the
treasurer's custody and any other money received by the treasurer for
the payment of benefits from any source other than the
unemployment trust fund, with the Secretary of the Treasury of the
United States of America to the credit of the unemployment trust
fund. All money belonging to the unemployment insurance benefit
fund and not otherwise deposited, invested, or paid over pursuant to
the provisions of this article may be deposited by the treasurer of
state under the direction of the commissioner in any banks or public
depositories in which general funds of the state may be deposited,
but no public deposit insurance charge or premium shall be paid out
of money in the unemployment insurance benefit fund, any other
provisions of law to the contrary notwithstanding. The treasurer of
state shall, if required by the Social Security Administration, give a
separate bond conditioned upon the faithful performance of the
treasurer's duties as custodian of the fund in an amount and with such
sureties as shall be fixed and approved by the governor. Premiums
for the said bond shall be paid as provided in IC 22-4-24.
(Formerly: Acts 1947, c.208, s.2703.) As amended by P.L.144-1986,
SEC.124; P.L.18-1987, SEC.70; P.L.21-1995, SEC.106.
Last modified: May 27, 2006