Three separate accounts within fund; collections credited to clearing account.

S.C. Code Ann. § 41-33-40
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
All money in the fund must be comingled and undivided, but the State Treasurer shall maintain within the fund three separate accounts: (a) a clearing account; (b) an unemployment trust fund account; and (c) a benefit account. All money payable to the fund, upon receipt of the money by the department, must be forwarded to the State Treasurer who immediately shall credit it to the clearing account. Effect of Amendment The 2010 amendment substituted "department" for "Commission"; and made other nonsubstantive changes.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.scstatehouse.gov/code/t41c033.phpFetched: 10/17/2026

Starting a business in South Carolina? South Carolina LLC guide: costs and requirements