Sec. 3-40. Treasurer to have care and management.
101 words·~1 min read·
/ct/title-3/chapter-32-treasurer/3-40·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Treasurer shall have the care and management of the School Fund and the Agricultural College Fund, loan and invest the principal thereof and have the care of the income from the same; but no loans from the School Fund shall be made outside of the state. He shall give a bond in the sum of one hundred thousand dollars, with surety to the state, conditioned for the faithful performance of his duties in the care and management of said funds, and shall report annually to the Governor, as provided by section 4-60 , with such suggestions as he deems important.