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



(1)  By any securities by which funds deposited by the
director of finance of the State may be legally secured, as provided in section
38-3; or



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



 



Revision Note



 



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