There is created the "insurance fund" to purchase insurance for the state and its public employees. Any money in the fund not needed to meet expected expenditures for the ensuing month shall be invested by the director of the risk management division with the prior approval of the state board of finance.
History: 1953 Comp., § 5-14-20, enacted by Laws 1976, ch. 58, § 20; 1977, ch. 247, § 53.