[§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]
Section: Previous 87a-18 87a-19 87a-20 87a-21 87a-22 87a-23 87a-24 87a-25 87a-26 87a-30 87a-31 87a-31.1 87a-31.5 87a-32 87a-33 NextLast modified: October 27, 2016