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



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



(2)  By an undertaking with such sureties as are
approved by the board faithfully to keep and pay over upon the order of the
board any deposits and agreed interest thereon, and all banks and trust
companies 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]