[§392-64]  Investment of moneys.  With
the 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 excess
of the amount deemed necessary for the payment of benefits for a reasonable
future period.  Such moneys may be invested in bonds of any political or
municipal corporation or subdivision of the State, or any of the outstanding
bonds of the State, or invested in bonds or interest-bearing notes or
obligations of the State (including state director of finance's warrant notes
issued pursuant to chapter 40), or of the United States, or those for which the
faith and credit of the United States, are pledged for the payment of principal
and 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 fund
shall always be readily convertible into cash when needed for the payment of
benefits.  The director of finance shall dispose of securities or other
properties belonging to the fund only under the direction of the director of
labor and industrial relations. [L 1969, c 148, pt of §1]