Advances, under title XII of Social Security Act, to Unemployment Compensation Trust Fund
(1) The Governor of the State of Oregon is hereby authorized in the discretion of the Governor to make necessary application to the Secretary of Labor of the United States to obtain an advance or advances pursuant to title XII of the Social Security Act, as amended.
(2) The Director of the Employment Department shall notify the Governor whenever the director determines that the conditions specified in section 1201 of the Social Security Act, as amended, or under any other Act of Congress extending such authority, have been met.
(3) Any amount transferred to the Unemployment Compensation Trust Fund by the Secretary of the Treasury of the United States under the terms of any agreement entered into in accordance with the authority extended in this section, shall be repaid from the Unemployment Compensation Trust Fund and as further provided in section 1202 of the Social Security Act, as amended. [1959 c.373 §§1,2,3]
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