(a)(1)  There is created the employment security reemployment fund, to be administered by the department of labor and training, without liability on the part of the state beyond the amounts paid into and earned by the fund. This fund shall consist of:

(i)  All payments received from employers and paid pursuant to §?28-43-8.6;

(ii)  All other moneys paid into and received by the fund;

(iii)  Property and securities acquired by and through the use of moneys belonging to the fund; and

(iv)  Interest earned upon moneys belonging to the fund.

(2)  All moneys in the employment security reemployment fund shall be mingled and undivided.

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(b)  All moneys received by the director for the employment security reemployment fund shall, upon receipt, be deposited by the director in a clearance account in a bank in this state.