19-17-106. Pension trust fund established -- restrictions on use. (1) A pension trust fund is established and maintained for payment of claims and benefits provided under the Volunteer Firefighters' Compensation Act and the volunteer firefighters' pension plan.
(2) Except as provided in this section, a member or an employee of the department or the board of investments may not:
(a) have any interest, direct or indirect, in the making of any investment or in the gains or profits accruing from the pension trust fund;
(b) directly or indirectly, for the member or employee or as an agent or partner of others, borrow from the pension trust fund or deposits;
(c) in any manner use the pension trust fund except to make current and necessary payments that are authorized by the board; or
(d) become an endorser or surety as to or in any manner an obligor for investments for the pension trust fund.
(3) The assets of the pension trust fund may not be used for or diverted to any purpose other than for the exclusive benefit of members, their surviving spouses, their dependent children, and qualified fire companies and for paying the reasonable administrative expenses of administering this chapter.
History: En. Sec. 1, Ch. 175, L. 1995; amd. Sec. 91, Ch. 562, L. 1999.