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Current as of January 01, 2022 | Updated by FindLaw Staff
(1) The division or its agent shall collect or receive all premiums, surcharges, payments in lieu of premiums, fines, and penalties provided for in articles 70 to 82 of this title, all interest on delinquent premiums and surcharges provided for in section 8-79-101, and all other moneys accruing to the fund from the federal government or any other source whatsoever and shall transmit all such moneys to the state treasurer, who shall cause the same to be deposited in a clearing account in his or her name in a state or national bank doing business in this state.
(2) Repealed by Laws 1985, S.B.71, § 8, eff. July 1, 1985.
(3) As instructed by the division, the state treasurer shall transfer from the clearing account to the employment security administration fund all amounts received pursuant to the provisions of section 8-72-110(5). All interest collected by the division pursuant to the provisions of section 8-79-101, all penalties collected by the division pursuant to sections 8-79-104(1)(a) and (1)(c) and 8-81-101(4)(a)(II), and all investigative costs collected by the division pursuant to section 8-81-101(4)(a)(III) shall be paid into the unemployment revenue fund.
(4) All amounts remaining in the clearing account after payment of refunds and the transfers provided for in subsection (3) of this section shall be paid to the secretary of the treasury of the United States for credit to the account of the state of Colorado in the federal unemployment trust fund established and maintained pursuant to section 904 of the federal “Social Security Act”, as amended. 1
Cite this article: FindLaw.com - Colorado Revised Statutes Title 8. Labor and Industry § 8-77-102. Collection and transmittal of receipts--clearing account--refunds--transfers - last updated January 01, 2022 | https://codes.findlaw.com/co/title-8-labor-and-industry/co-rev-st-sect-8-77-102/
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 or via Westlaw before relying on it for your legal needs.
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