[§87A-25] Other duties.
125 words·~1 min read·
/hi/87a-25A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
[§87A-25] Other duties. The board shall:
(1)Authorize charges and payments from the fund only upon vouchers countersigned by the chairperson and any other person designated by the board;
(2)Maintain accurate records and accounts of all financial transactions of the fund that shall be audited annually and summarized in an annual report to the governor and legislature;
(3)Maintain suitable and adequate records and provide information requested by State and county employers as necessary to carry out the purpose of the fund;
(4)Procure fiduciary liability insurance and error and omissions coverage for all trustees; and
(5)Procure a fidelity bond of a reasonable amount for the chairperson and any other person authorized to handle fund moneys. [L 2001, c 88, pt of §1]