(a) The Director of the Department of Finance and Administration shall be the custodian of all property held in the name of the Building Authority Division of the Department of Finance and Administration, shall be its disbursing agent and executive officer, and shall administer the provisions of this subchapter and the rules, regulations, and orders established thereunder.
(b) The director shall employ such assistants and other personnel as are, in his or her opinion, necessary to properly administer the provisions of this subchapter.
(c) (1) The director shall furnish bond to the state, with a corporate surety thereon, in the penal sum of twenty-five thousand dollars ($25,000), conditioned that he or she will faithfully perform his or her duties and properly account for all funds received and disbursed by him or her.
(2) An additional disbursing agent's bond shall not be required of the director, and the bond so furnished shall be filed in the office of the Secretary of State, and an executed counterpart thereof shall be filed with the Auditor of State.
(3) The premium on the bond shall be a proper charge against the funds under the control of the director.
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