(1) Officers of the municipality or district who are designated by law to draw warrants on the treasurer of the municipality or district shall draw warrants thereon upon orders by the board, payable to the board's treasurer for moneys belonging to the fund.
Except as provided in subsection (3) of this section, the board's treasurer shall paymoneys ordered to be paid from the fund to any person only upon warrants signed by the board's president and countersigned by the board's secretary. A warrant shall not be drawn except by the board's order that is duly entered in the records of the board's proceedings.
Fund moneys in noninsured trust pension plans with a bank or trust company shall bepaid by the trustee only upon the board's written order that is signed by the board's president, countersigned by the board's secretary, and duly entered in the records of the board's proceedings.
Source: L. 95: Entire part added, p. 1372, § 2, effective June 5.