§174-9  Security for funds deposited byboard.  The board of land and natural resources may by resolution providethat all moneys deposited by it shall be secured:

(1)  By any securities by which funds deposited by thedirector of finance of the State may be legally secured, as provided in section38-3; or

(2)  By an undertaking with such sureties as shall beapproved by the board faithfully to keep and pay over upon the order of theboard any such deposits and agreed interest thereon, and all banks and trustcompanies are authorized to give any such security for the deposits. [L 1961, c166, pt of §3; am L 1963, c 114, §1; Supp, §86-8; HRS §174-9]

 

Revision Note

 

  Section "38-3" substituted for "38-2".