Nevada § 612.590 - Accounts; deposits; refunds

§ 612.590. Accounts; deposits; refunds

1. The State Treasurer shall: (a) Be the treasurer and custodian of the Fund. (b) Administer the Fund in accordance with the directions of the Administrator. (c) Issue warrants upon it in accordance with such regulations as the Administrator

prescribes. 2. The State Treasurer shall maintain within the Fund three separate accounts: (a) A Clearing Account. (b) An Unemployment Trust Fund Account. (c) A Benefit Account. 3. All money payable to the Fund, upon receipt thereof by the Administrator, must

be forwarded to the State Treasurer, who shall immediately deposit it in the Clearing

Account. 4. Refunds payable pursuant to NRS 612.655 may be paid from the Clearing Account or from the Benefit Account upon warrants issued

by the State Treasurer under the direction of the Administrator. 5. After clearance thereof, all other money in the Clearing Account must be immediately

deposited with the Secretary of the Treasury to the credit of the account of this

State in the Unemployment Trust Fund established and maintained pursuant to Section

904 of the Social Security Act, as amended, 42 U.S.C. § 1104 , any provisions of law in this State relating to the deposit, administration, release

or disbursement of money in the possession or custody of this State to the contrary

notwithstanding. 6. The Benefit Account consists of all money requisitioned from this State's account

in the Unemployment Trust Fund and any money transferred to the Benefit Account pursuant

to NRS 612.6128 . 7. Except as herein otherwise provided, money in the Clearing and Benefit Accounts

may be deposited by the State Treasurer, under the direction of the Administrator,

in any bank, credit union or public depositary in which general money of the State

may be deposited, but no public deposit insurance charge or premium may be paid out

of the Fund. 8. Money in the Clearing and Benefit Accounts must not be commingled with other state

money, but must be maintained in a separate account on the books of the depositary. Money in the Clearing and Benefit Accounts must be secured by the bank, credit union

or public depositary to the same extent and in the same manner as required by the

general depositary laws of the State of Nevada, and collateral pledged must be maintained

in a separate custody account.