(1) There is established in the State Treasury, separate and distinct from the General Fund, the Employment Tax Guarantee Fund. The Employment Tax Guarantee Fund shall consist of:
(a) Money deposits received under ORS 657.505 or 657.507; and
(b) Proceeds of bonds posted under ORS 657.505 or 657.507.
(2) Interest earned on the Employment Tax Guarantee Fund shall be credited to the Employment Department Special Administrative Fund. [1967 c.435 §14; 1995 c.37 §6; 2003 c.401 §2]