§206-18  Security for funds deposited byboard.  The board of land and natural resources may, by resolution, providethat any moneys deposited by it shall be secured:

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

(2)  By an undertaking with such sureties as areapproved by the board faithfully to keep and pay over upon the order of theboard any deposits and agreed interest thereon, and all banks and trustcompanies may give any security for the deposits. [L 1961, c 6, §16; am L 1963,c 114, §1; Supp, §98J-16; HRS §206-18; am L 1979, c 105, §19]