§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]