Okla. Stat. tit. 40, § 40-3-610
This is the official text of Okla. Stat. tit. 40, § 40-3-610, part of Oklahoma’s Stat. tit. 40, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 40,." Browse the sections below, each linked to its official government source.
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Management of funds of unemployment trust fund
Official statutory text
MANAGEMENT OF FUNDS OF UNEMPLOYMENT TRUST FUND. If and when the
unemployment trust fund in the Treasury of the United States, ceases
to exist, or such separate book account of the unemployment trust
fund is no longer maintained, all moneys belonging to the
unemployment compensation fund of this state shall be administered
by the Commission as a trust fund for the purpose of paying benefits
under this act, and the Commission shall have authority to hold,
invest, transfer, sell, deposit, and release such moneys, and any
properties, securities, or earnings acquired as an incident to such
administration; provided, that such moneys shall be invested in the
following readily marketable classes of securities: Bonds or other
interest-bearing obligations of the United States of America or
guaranteed both as to interest and principal by the United States;
provided further, that such investment shall at all times be so made
that all the assets of the fund shall always be readily convertible
into cash when needed for the payment of benefits. The Treasurer
shall dispose of securities or other properties belonging to the
unemployment compensation fund only under the direction of the
Commission.
unemployment trust fund in the Treasury of the United States, ceases
to exist, or such separate book account of the unemployment trust
fund is no longer maintained, all moneys belonging to the
unemployment compensation fund of this state shall be administered
by the Commission as a trust fund for the purpose of paying benefits
under this act, and the Commission shall have authority to hold,
invest, transfer, sell, deposit, and release such moneys, and any
properties, securities, or earnings acquired as an incident to such
administration; provided, that such moneys shall be invested in the
following readily marketable classes of securities: Bonds or other
interest-bearing obligations of the United States of America or
guaranteed both as to interest and principal by the United States;
provided further, that such investment shall at all times be so made
that all the assets of the fund shall always be readily convertible
into cash when needed for the payment of benefits. The Treasurer
shall dispose of securities or other properties belonging to the
unemployment compensation fund only under the direction of the
Commission.
Status: in_force · Read it on the official government site
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