[§444-29]  Management of fund.  The sums
received by the contractors license board for deposit in the contractors
recovery fund shall be held by the contractors license board in trust for
carrying out the purposes of the contractors recovery fund.  The contractors
license board, as trustee of the recovery fund, shall be authorized to retain
private legal counsel to represent the board in any action which may result in
collection from the contractors recovery fund.  These funds may be invested and
reinvested in the same manner as funds of the state employees' retirement
system, and the interest from these investments shall be deposited to the
credit of the contractors education fund, and which shall be available to the
contractors license board for educational purposes, which is hereby created. [L
1973, c 170, pt of §1]



 



Attorney General Opinions



 



  Governs hiring of attorneys for board; compliance with
section 103-3 unnecessary.  Att. Gen. Op. 86-9.