2003 Minnesota Statutes

     353.05 Custodian of funds. 

    The commissioner of finance shall be ex officio treasurer 
 of the retirement funds of the association and the general bond 
 of the commissioner of finance to the state shall be so 
 conditioned as to cover all liability for acts as treasurer of 
 these funds.  All moneys of the association received by the 
 commissioner of finance shall be set aside in the state treasury 
 to the credit of the proper fund.  The commissioner of finance 
 shall transmit monthly to the executive director a detailed 
 statement of all amounts so received and credited to the fund.  
 Payments out the fund shall be made only on warrants issued by 
 the commissioner of finance, upon abstracts signed by the 
 executive director; provided that abstracts for investment may 
 be signed by the secretary of the State Board of Investment. 

    HIST: (254-27) 1931 c 307 s 5; 1959 c 650 s 58; 1971 c 106 s 
 12; 1974 c 229 s 10; 1975 c 102 s 6; 1986 c 444; 2003 c 112 art 
 2 s 50