(a) The Firemen’s Relief Association of Minneapolis shall be composed of members of the fire department of the city and shall be incorporated under the laws of the State of Kansas.
(b) The officers of said association shall consist of a president, vice president, secretary and treasurer. Such officers shall be selected as provided by the bylaws of said Firemen’s Relief Associations.
(c) Said association shall adopt such bylaws, rules and regulations as it may deem advisable in carrying out and promoting the object of said association, not inconsistent with the provisions of this article or the laws of the State of Kansas. The secretary shall keep a complete record of the transactions of the association, which shall at all times be subject to inspection by the governing body of the city. Ref: Firemen’s Relief, Chapter 40, Art, 17, K.S.A.
(a) The treasurer of the Firemen’s Relief Association shall receive from the State Commissioner of Insurance, all money belonging to the Firemen’s Relief Fund of the Firemen’s Relief Association of the City of Minneapolis and other money collected, and shall deposit the same to the credit of the Minneapolis Firemen’s Relief Fund. He shall pay out such funds only on warrants issued by said association which warrants shall be signed by the president, countersigned by the secretary and bear the seal of said association.
(b) Such treasurer shall give bond for the safekeeping of such funds and for faithful performance in such sum with such sureties as may be approved by the governing body of the city.
(K.S.A. Supp. 40-1706)
All moneys received by the treasurer of the Firemen’s Relief Association shall be set apart and used by the Firemen’s Relief Association solely and entirely for the objects and purposes of this article and as set forth in Chapter 40, Article 17, Kansas Statutes Annotated, and shall be paid to and distributed by the Firemen’s Relief Association under such provisions as shall be made by the governing body of the city: Provided That in all cases involving expenditures or payments in an amount of five hundred dollars ($500.00) or more, prior certification shall be obtained from the city attorney that such expenditures or payment complies with such requirements. NOTE: For use of moneys, See K.S.A. 40-1707.
Moneys collect and received under the provisions of this article may be expended for the purchase of, or payment of premiums on, policies of life, accident, or accident and health insurance upon members of the fire department of this city, which policies may be owned either by the Firemen’s Relief Association of this city or by the individual members thereof but, before any premium is paid on such policies of insurance the provisions thereof shall be approved by such Firemen’s Relief Association as suitable to carry out the objects for which said Association was established.
The officers of the Firemen’s Relief Association may invest any amount, not to exceed ninety per cent (90%) of all such moneys, in purchasing bonds of the City of Minneapolis: Provided, that when bonds of the City of Minneapolis are not obtainable, United states government bonds may be purchased or any municipal bonds of this state where the bonded indebtedness of such municipality shall not exceed fifteen per cent (15%) of its total assessed valuation, as shown by the last assessment preceding such investment. Such investments must be approved by the governing body of the city. It shall be the duty of the city attorney to examine all such bonds as to their validity and report thereon in writing to the city governing body and the Firemen’s Relief Association and no bonds shall be purchased by said Firemen’s Relief Association until they have been approved and found valid by the City Attorney.