(a) The Controller shall have full power to invest and reinvest the ME Health Benefits Fund and expense account subject to applicable law.
(b) The Controller shall have full power to hold, purchase, sell, assign, transfer and dispose of any of the securities and investments in which any part of the ME Health Benefits Fund has been invested, as well as the proceeds of such investments and any moneys belonging to the ME Health Benefits Fund.
(c) The ME Health Benefits Fund and expense account shall be held for the sole purpose of meeting disbursements for health benefits and the administration expense of this chapter, respectively, and shall be used for no other purpose. The descriptions of the ME Health Benefits Fund and expense account in Sections 295.08 and 295.09 shall be interpreted to refer to the accounting records of the ME Health Benefits Fund and expense account and shall not be construed as requiring actual segregation of the moneys in the ME Health Benefits Fund.
(Res. 94-717. Passed 12-19-94.)