§383-124  Relation to unemployment trustfund.  Sections 383-121 to 383-123 to the extent that they relate to theunemployment trust fund, shall be operative only so long as the unemploymenttrust fund continues to exist, and so long as the Secretary of the Treasury ofthe United States continues to maintain for the State a separate account of allfunds deposited therein by the State for benefit purposes, together with theState's proportionate share of the earnings of such unemployment trust fund,from which no other state or territory is permitted to make withdrawals.  Ifand when the unemployment trust fund ceases to exist, or the separate accountis no longer maintained, all moneys, properties, or securities therein, to thecredit of the unemployment compensation fund of the State, are returnable tothe director of finance of the State who shall hold, invest, transfer, sell,deposit, and release such moneys, properties, or securities in a mannerapproved by the department of labor and industrial relations in accordance withthis chapter.  The moneys shall be invested in the following readily marketableclasses of securities:  bonds or other interest-bearing obligations of theUnited States, or other securities which may be acquired under the sinking fundlaws of the State; provided that the investment shall at all times be so madethat all the assets of the fund shall always be readily convertible into cashwhen needed for the payment of benefits.  The director of finance shall disposeof securities or other properties belonging to the unemployment compensationfund only under the direction of the department. [L 1939, c 219, §9(d); RL1945, §4266; RL 1955, §93-123; am L Sp 1959 2d, c 1, §27; HRS §383-124]