The provisions of this article to the extent that they relate to the unemployment trust fund shall be operative only so long as the Secretary of the Treasury of the United States continues to maintain for this State a separate book account of all funds deposited therein by this State for benefit purposes, together with this State's proportionate share of the earnings of such unemployment trust fund, from which no other State is permitted to make withdrawals. If and when such unemployment trust fund ceases to exist or such separate book account is no longer maintained, all moneys, properties or securities therein belonging to the unemployment compensation fund of this State shall be transferred to the treasurer of the unemployment compensation fund, who shall hold, invest, transfer, sell, deposit and release such moneys, properties or securities in a manner approved by the Commission in accordance with the provisions of Chapters 27 through 41 of this Title. But such moneys shall be invested only in the readily marketable bonds or other interest bearing obligations of the United States or of this State or a political subdivision thereof and such investments shall at all times be so made that all the assets of the fund shall always be readily convertible into cash when needed for the payment of benefits. The treasurer shall dispose of securities or other properties belonging to the unemployment compensation fund only under the direction of the Commission in accordance with the purposes and provisions of Chapters 27 through 41 of this Title.