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



(1)  Authorize charges and payments from the fund only
upon vouchers countersigned by the chairperson and any other person designated
by the board;



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



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



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



(5)  Procure a fidelity bond of a reasonable amount
for the chairperson and any other person authorized to handle fund moneys. [L
2001, c 88, pt of §1]