Section 8-407 - Federal advances.
§ 8-407. Federal advances.
(a) Application by Secretary.- In accordance with and to obtain the advantages under Title XII of the Social Security Act the Secretary:
(1) may apply for an advance to the Unemployment Insurance Fund; and
(2) has responsibility for repayment of the advance.
(b) Interest on payments.- Interest required to be paid on an advance under subsection (a) of this section:
(1) shall be paid in a timely manner; and
(2) may not be paid directly or indirectly from contributions or from the Unemployment Insurance Fund.
[An. Code 1957, art. 95A, §§ 10, 12; 1991, ch. 8, § 2.]