§435E-15  Funds, investment.  All fundsheld in trust which are in excess of current financial needs shall be investedand reinvested from time to time, under the direction of the board of trustees,in a manner consistent with the requirements of article 8 of chapter 412, or incertificates of deposits or time deposits issued by banks, savings banks,savings and loan associations and depository financial services loan companiesin Hawaii duly insured by instrumentalities of the United States government. [L1977, c 182, pt of §1; am L 1993, c 350, §21]