[§392-64]  Investment of moneys.  Withthe approval of the department the director of finance may, from time to time,invest such moneys in the special fund for disability benefits as are in excessof the amount deemed necessary for the payment of benefits for a reasonablefuture period.  Such moneys may be invested in bonds of any political ormunicipal corporation or subdivision of the State, or any of the outstandingbonds of the State, or invested in bonds or interest-bearing notes orobligations of the State (including state director of finance's warrant notesissued pursuant to chapter 40), or of the United States, or those for which thefaith and credit of the United States, are pledged for the payment of principaland interest, or in federal land bank bonds or joint stock farm loan bonds. The investments shall at all times be so made that all the assets of the fundshall always be readily convertible into cash when needed for the payment ofbenefits.  The director of finance shall dispose of securities or otherproperties belonging to the fund only under the direction of the director oflabor and industrial relations. [L 1969, c 148, pt of §1]