Section 47-22-4. Administration and operation of plan; records; payment of employees and expenses; investment

   (a) The general administration and responsibility for the proper operation of the plan and for putting this chapter into effect are vested in the board.

(b) The board shall keep a record of all of its proceedings under this chapter, which record shall be open to the public.

(c) All persons employed by the board and the expenses of the board in furtherance of this chapter shall be paid from funds appropriated to the plan until such time as the board determines that the return on investments is sufficient to cover such costs.

(d) The board may combine the moneys subject to this chapter with other moneys under the control of the board for purposes of investment, provided that a separate accounting is maintained for all moneys subject to this chapter.

Code 1981, § 47-22-4, enacted by Ga. L. 1992, p. 1288, § 1; Ga. L. 2005, p. 535, § 28/HB 460; Ga. L. 2010, p. 1207, § 59/SB 436.