(a) The assessment imposed pursuant to this act shall on or before the 20th day of the calendar month following the date of settlement be paid by the purchaser to the secretary. The secretary shall issue a receipt to the purchaser for such assessment. The secretary shall deposit all moneys received in payment of such assessment in a bank account established in the name of the commission in accordance with the provisions of this act.

(b) Each bank account used in operating and conducting the commission’s duties shall be secured by a pledge of securities in the manner prescribed for state bank accounts as provided under Kan. Stat. Ann. § 75-4218, and amendments thereto.