Page 152

Oklahoma Statutes - Title 40. Labor Page 152 to the Commission that all or a part of the indebtedness is not legally enforceable or is otherwise invalid. C. If the debtor responds to the notice by presenting evidence, the Commission shall evaluate the evidence and review its records of the indebtedness. Based on this evaluation and review, the Commission may modify the amount of the indebtedness. Once the evaluation and review process is complete, the indebtedness shall be submitted to the U.S. Department of Treasury for collection through the Tax Offset Program. D. If no evidence is presented by the debtor within the sixty- day time period allowed by the notice, the amount of the indebtedness will be submitted to the U.S. Department of the Treasury for collection through the Tax Offset Program. E. If the Oklahoma Employment Security Commission receives an erroneous payment from the U.S. Department of the Treasury, the Oklahoma Employment Security Commission shall return the payment to the U.S. Department of the Treasury. If the money that was erroneously paid to the Oklahoma Employment Security Commission had been credited to a state unemployment tax indebtedness, that indebtedness shall be reinstated to the amount that existed before the payment was credited. Added by Laws 2015, c. 249, § 16, eff. Nov. 1, 2015.

§40-3-601. Establishment of unemployment compensation fund. ESTABLISHMENT OF UNEMPLOYMENT COMPENSATION FUND. There is hereby established as a special fund, separate and apart from all public moneys or funds of this state, the Unemployment Compensation Fund, which shall be administered by the Commission exclusively for the purpose of this act. This fund shall consist of (1) all contributions collected pursuant to this act, together with any interest thereon collected pursuant to this act; (2) all penalties collected pursuant to the provisions of this act; (3) interest earned upon any moneys in the fund; (4) any property or securities acquired through the use of moneys belonging to the fund; (5) all earnings of such property or securities; and (6) all other moneys received for the fund from any other source. All moneys in the fund shall be mingled and undivided. Added by Laws 1980, c. 323, § 3-601, eff. July 1, 1980.

§40-3-602. State Treasurer custodian of fund. STATE TREASURER CUSTODIAN OF FUND. The State Treasurer shall be ex officio the treasurer and custodian of the fund who shall administer such fund in accordance with the directions of the Commission and shall issue his warrants upon it in accordance with such rules as the Commission shall prescribe. Added by Laws 1980, c. 323, § 3-602, eff. July 1, 1980. Amended by Laws 1993, c. 219, § 28, eff. Sept. 1, 1993.