[§393-42]  Management of the fund.  The
director of finance shall be the treasurer and custodian of the premium
supplementation fund and shall administer the fund in accordance with the
directions of the director of labor and industrial relations.  All moneys in
the fund shall be held in trust for the purposes of this part only and shall
not be expended, released, or appropriated or otherwise disposed of for any
other purpose.  Moneys in the fund may be deposited in any depositary bank in
which general funds of the State may be deposited but such moneys shall not be
commingled with other state funds and shall be maintained in separate accounts
on the books of the depositary bank.  Such moneys shall be secured by the
depositary bank to the same extent and in the same manner as required by the
general depositary law of the State; and collateral pledged for this purpose
shall be kept separate and distinct from any other collateral pledged to secure
other funds of the State.  The director of finance shall be liable for the
performance of the director of finance's duties under this section as provided
in chapter 37. [L 1974, c 210, pt of §1; gen ch 1985]