North Dakota Code 18-11-14 – Disbursement of moneys from association state fund
The amounts paid into the relief association by the state, city, and employee’s salary contribution and set aside in the association state fund must be appropriated and disbursed only for:
Terms Used In North Dakota Code 18-11-14
- children: includes children by birth and by adoption. See North Dakota Code 1-01-18
- Contract: A legal written agreement that becomes binding when signed.
- Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49
1. The payment of disability or service pensions to members of the association; 2. Pensions to widows and children or orphans of members or retired members; 3. The payment of the fees of the president and secretary-treasurer and the premiums on the bond of the secretary-treasurer or any other officer; 4. Funeral payments; 5. Cost of the state audit; 6. Essential postage, office supplies, and equipment; 7. Actuarial study; 8. Return of contributions to those qualified under section 18-11-20; 9. Investment contract fees; 10. Legal and accounting fees; 11. The indemnification of members of the board of trustees pursuant to section 18-11-18; and 12. Any other expenditures related to the general principles for which this chapter is established.