(1) Except as otherwise provided in this section, the executive director of the department may waive recovery of benefits paid under this chapter to a person if the person is subsequently found to be ineligible for the benefit and the benefits were paid as a direct result of unemployment caused by a natural disaster which is declared by the President of the United States in accordance with Section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act. All waivers shall be granted based upon a consistent methodology and shall include consideration of ability to repay and other similar considerations.
(2) The waiver authorized in subsection (1) of this section shall not be granted if:
(a) The individual receiving the benefit is found to be guilty of fraud involving filing for, or receipt of, the benefits; or
(b) The size of fund index (as defined in Section 71-5-355) for the year in which a request for a waiver is made is less than five-tenths (.5).
(3) All waiver requests shall be considered on a case by case basis.
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