Skip to main content
Find a Lawyer

Arkansas Code Title 11. Labor and Industrial Relations § 11-10-716. Past due contributions--Interest

Current as of March 28, 2024 | Updated by Findlaw Staff

(a)(1) If contributions are not paid on the date on which they are due and payable as prescribed by the Director of the Division of Workforce Services, the whole or part thereafter remaining unpaid shall bear interest at the rate of one and one-half percent (1.5%) per month from and after the due date until payment is received by the director.

(2) In computing interest for any period less than a full month, the rate shall be five-hundredths of a percent (0.05%) for each day or fraction thereof.

(3) The date as of which payment of contributions, if mailed, is deemed to have been received may be determined by such rules as the director may prescribe.

(b)(1)(A) At the end of each month, deposits in the Unemployment Compensation Fund Clearing Account which have been established as interest and penalty payments collected pursuant to §§ 11-10-716 -- 11-10-723 shall be paid over to the Treasurer of State and credited by him or her to the Division of Workforce Services Special Fund, § 19-5-984, created and established in the State Treasury.

(B) All withdrawals shall be upon voucher warrants issued, or caused to be issued, by the director for any one (1) or more of the following purposes as authorized by legislative appropriation:

(i) Refunds of the interest and penalties erroneously paid;

(ii) Replacements of money lost or erroneously expended, as provided by § 11-10-322; and

(iii) Such other and additional purposes necessary to the proper administration of this chapter as specifically provided in the appropriation for the Division of Workforce Services.

(2) Funds received as a result of the application of funds withdrawn from the fund pursuant to and in accordance with the withdrawal purposes and provisions set forth in this subsection shall also be deposited into and credited to the fund.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Arkansas Code Title 11. Labor and Industrial Relations § 11-10-716. Past due contributions--Interest - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-11-labor-and-industrial-relations/ar-code-sect-11-10-716/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard