(a) To the extent that Alaska Stat. § 23.20.130 – 23.20.140 relate to the unemployment trust fund, they are operative only so long as the unemployment trust fund exists and so long as the Secretary of the Treasury of the United States of America maintains for the state a separate book account of all funds deposited in it by this state for benefit purposes, together with the state’s proportionate share of the earnings of the unemployment trust fund, from which no other state may make withdrawals.
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Terms Used In Alaska Statutes 23.20.150

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • benefits: means the money payments payable to an individual, as provided in this chapter with respect to the individual's unemployment. See Alaska Statutes 23.20.520
  • fund: means the unemployment compensation fund established by this chapter. See Alaska Statutes 23.20.520
  • property: includes real and personal property. See Alaska Statutes 01.10.060
  • state: includes the states of the United States of America, the District of Columbia, the Commonwealth of Puerto Rico, and the Virgin Islands. See Alaska Statutes 23.20.520
(b) If the unemployment trust fund ceases to exist, or a separate book account is no longer maintained, all money, property, or security in the fund which belongs to the unemployment compensation fund of the state shall be transferred to the treasurer of the unemployment compensation fund, who shall hold, invest, transfer, sell, deposit, and release the money, property, or security in a manner approved by the department in accordance with this chapter. However, the money shall be invested in bonds or other interest-bearing obligations of the United States and the investments shall be made so that all the assets of the fund are readily convertible into cash when needed for the payment of benefits. The treasurer may dispose of securities or other property belonging to the unemployment compensation fund only under the direction of the department.
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