20 Miss. Code. R. § 101-600-607.00 - Subdivision Surety Bond
Reimbursing Political Subdivisions may execute a Surety
Bond in lieu of establishing a revolving fund as provided in Section
71-5-355
9(2)(f) of
the Law. The bond shall be executed annually, and shall be for less than two
percent (2%) of the covered wages paid during the next preceding year. This
bond shall be submitted to the Agency for approval. Failure to submit an
approved renewal bond in the allotted time will automatically place the
political subdivision under the revolving fund requirement of the Law. Any
Surety Bond approved under this regulation shall remain effective according to
its terms regardless of the continuation of a contractual relationship between
the Political Subdivision and any company providing unemployment insurance
services to it.
Notes
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