The governor is authorized to apply for advances to the state of North Dakota from the federal unemployment trust fund and to accept responsibility for repayment of such advances in accordance with the conditions specified in title XII of the Social Security Act, as amended, in order to secure to this state the advantages available under the provisions of said title. Advances from the federal unemployment trust fund which are interest -bearing must have such interest cost assessed against and paid from the federal advance interest repayment fund.
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