South Carolina § 41-31-55 - Additional surcharges when fund insolvent; rates; deposit in special account.
Full text of South Carolina South Carolina Code of Laws § 41-31-55 — Additional surcharges when fund insolvent; rates; deposit in special account., with citation guidance and answers to common questions.
§ 41-31-55. Additional surcharges when fund insolvent; rates; deposit in special account.
(A) In any calendar year in which the State Unemployment Insurance Trust Fund is insolvent, the State shall impose additional surcharges on all contributory employers to pay interest on the outstanding debt. The estimated amount of interest to be paid in the upcoming year will be divided by the estimated taxable payroll for the calendar year. The result rounded to the next higher one-hundredth of one percent is the statewide average surcharge.
(B) The rate for class twenty will be set so that the entire schedule raises the income required to pay interest surcharges for the year, subject to the structure defined in subsection (A). The rate for each preceding benefit rate class shall be equal to ninety percent of the rate calculated for the succeeding class, except that the rate class twelve shall be set at one-fourth the rate calculated for rate class twenty.
(C) These funds shall be deposited in a special account as provided in Section 41-33-810.
HISTORY: 2010 Act No. 234, SECTION 1, eff January 1, 2011; 2011 Act No. 3, SECTION 11, eff March 14, 2011.
Effect of Amendment
The 2011 amendment in subsection (A), in the first sentence, inserted "contributory" before "employers; and added subsection (C) relating to deposit into a special account.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 41-31-55
What does South Carolina Code of Laws § 41-31-55 cover?
Section 41-31-55 ("Additional surcharges when fund insolvent; rates; deposit in special account.") is part of the South Carolina Code of Laws, the codified statutory law of South Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Carolina § 41-31-55?
A common citation format is "South Carolina Code of Laws § 41-31-55" (South Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Carolina official source linked on this page or consult a licensed South Carolina attorney.
How does South Carolina § 41-31-55 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Carolina.