The Commission may enter into arrangements with the appropriate agencies of other states or of the Federal Government with respect to the combination of wages, viz.:

1. (1) The Commission may enter into an agreement with the Federal Government whereby wages or services, upon the basis of which an individual may become entitled to benefits under any unemployment compensation law of the Federal Government shall be deemed to be wages for employment by employers for the purpose of Sections 41-35-10 to 41-35-100; provided, such agency of the Federal Government has agreed to reimburse the fund for such portion of benefits paid under Chapters 27 through 41 of this Title upon the basis of such wages or services as the Commission finds will be fair and reasonable and the Commission will reimburse such agency of the Federal Government with such reasonable portion of benefits paid under any law of the Federal Government upon the basis of employment or wages for employment by employers as the Commission finds will be fair and reasonable to all affected interests.

2. (2) The Commission shall participate in any arrangements for the payment of compensation on the basis of combining an individual's wages and employment covered under Chapters 27 through 41 of this Title with his wages and employment covered under the unemployment compensation laws of other states which are approved by the United States Secretary of Labor in consultation with the state unemployment compensation agencies as reasonably calculated to assure the prompt and full payment of compensation in such situations and which include provisions for:

   1. (a) Applying the base period of a single state law to a claim involving the combining of an individual's wages and employment covered under two or more state unemployment compensation laws, and
   2. (b) Avoiding the duplicate use of wages and employment by reason of such combining.
3. (3) Reimbursement so payable shall be deemed to be benefits for the purpose of Section 41-35-50 and Article 1 of Chapter 33 of this Title. The Commission may make to other state or Federal agencies and receive from such state or Federal agencies reimbursements from or to the fund, in accordance with arrangements made pursuant to this section.