(a) The Controller shall have full power to invest and reinvest the PF 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 PF Health Benefits Fund has been invested, as well as the proceeds of such investments and any moneys belonging to the PF Health Benefits Fund.
(c) The PF 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 PF Health Benefits Fund and expense account in Sections 297.08 and 297.09 shall be interpreted to refer to the accounting records of the PF Health Benefits Fund and expense account and shall not to be construed as requiring actual segregation of the moneys in the PF Health Benefits Fund.
(Res. 94-718. Passed 12-19-94.)