9-955. Officers of board; meetings; procedure
for disbursements
A. The board of trustees shall elect from its members the president and secretary
of the board for the ensuing year. The city or town treasurer, or the county treasurer,
as the case may be, shall be treasurer, except that if the board of trustees of a fire
district assumes the responsibility for investing and reinvesting the funds pursuant to
section 9-957, subsection B, the board of trustees may elect from its members a treasurer
who is responsible for the custody of the cash and securities of the fund and for
executing the decisions of the board of trustees with respect to investments,
reinvestments, receipts and disbursements.
B. The board shall meet annually and at such other times as the president may
direct.
C. The board shall issue orders signed by the president and the secretary to the
beneficiaries of the amounts ordered paid to such beneficiaries from the fund stating the
conditions of the payment. The board of trustees of a fire fighters' relief and pension
fund of a fire district which procures the services of a private fire protection company
pursuant to section 48-805, subsection B, paragraph 8 may pay directly to the board of
the fire district an amount each year of not to exceed the cost of the private fire
protection company's pension plan but only to the extent monies are available in the
fund. The board shall keep a public record of its proceedings. At each regular meeting
it shall transmit to the city, town or county treasurer, as the case may be, a written
list of all persons entitled to benefits from the fund, stating the reason and amount of
the benefits. The list shall be certified and signed by the president and secretary and
attested under oath. The treasurer of the city or town, or in the case of unincorporated
towns, the county treasurer, shall thereupon enter a copy of the list upon a book kept
for that purpose. The fund shall not be disbursed without a majority vote of the members
of the board, the vote to be entered upon the minutes.
D. Notwithstanding the provisions of subsections A and C of this section, if the
board of trustees of a fire district assumes the responsibility for investing and
reinvesting the funds pursuant to section 9-957, subsection B, the duties of the
treasurer may be performed by a member of the board elected by the board. If the duties
of the treasurer are performed by a member of the board he shall be bonded for an amount
determined by the board which amount shall not be less than the maximum amount of funds
in the account at any one time during the previous year.
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