2006 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.
History: (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