[§87A-25]  Other duties.  The boardshall:

(1)  Authorize charges and payments from the fund onlyupon vouchers countersigned by the chairperson and any other person designatedby the board;

(2)  Maintain accurate records and accounts of allfinancial transactions of the fund that shall be audited annually andsummarized in an annual report to the governor and legislature;

(3)  Maintain suitable and adequate records andprovide information requested by State and county employers as necessary tocarry out the purpose of the fund;

(4)  Procure fiduciary liability insurance and errorand omissions coverage for all trustees; and

(5)  Procure a fidelity bond of a reasonable amountfor the chairperson and any other person authorized to handle fund moneys. [L2001, c 88, pt of §1]