(a) There is created a special fund in the state treasury known as the employment security administration fund.
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Terms Used In Alaska Statutes 23.20.155

  • employment: includes services described in this subparagraph and (A) of this paragraph only if
    (i) the contract of service contemplates that substantially all of the services are to be performed personally by the individual. See Alaska Statutes 23.20.525
  • fund: means the unemployment compensation fund established by this chapter. See Alaska Statutes 23.20.520
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • 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) All money deposited into this fund shall be continuously available to the department for expenditure in accordance with this chapter, and may not lapse at any time or be transferred to any other fund. All money in this fund, except money received under Alaska Stat. § 23.20.145(h), which is received from the federal government or which is appropriated by the state for the purpose described in Alaska Stat. § 23.20.100 shall be expended solely for the purpose and in the amount found necessary by the Secretary of Labor for administration of this chapter.
(c) The fund consists of all money appropriated by this state; all money received from the federal government; all money received from another source for that purpose; money received from an agency of the United States or another state as compensation for services or facilities supplied to such agency; amounts received under a surety bond or insurance policy or from other sources for losses sustained by the employment security administration fund or by reason of damage to equipment or supplies purchased from money in the fund; and proceeds realized from the sale or disposition of equipment or supplies which are no longer necessary for the administration of this chapter. Notwithstanding any provision of this section, all money requisitioned and deposited in this fund under Alaska Stat. § 23.20.145(h) shall remain part of the unemployment fund and shall be used only in accordance with the conditions specified in Alaska Stat. § 23.20.145(f) – (h).
(d) All money in this fund shall be deposited, administered, and disbursed, in the same manner and under the same conditions and requirements provided by law for other special funds in the state treasury.
(e) The commissioner of revenue is liable on the official bond of the commissioner for the faithful performance of the commissioner’s duties in connection with the employment security administration fund. This liability on the official bond exists in addition to liabilities on a separate bond. Money recovered on a surety bond for losses sustained by the employment security administration fund shall be deposited in that fund.
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