(a) The director of investments may invest and reinvest moneys in the self-insurance
reserve fund in accordance with investment policies established by the pooled money
investment board under K.S.A. 75-4232, and amendments thereto, in obligations of the United States of America or obligations
the principal and interest of which are guaranteed by the United States of America
or in interest-bearing time deposits in any commercial bank located in Kansas, or,
if the director of investments determines that it is impossible to deposit such moneys
in such time deposits, in repurchase agreements of less than 30 days' duration with
a Kansas bank or with a primary government securities dealer which reports to the
market reports division of the federal reserve bank of New York for direct obligations
of, or obligations that are insured as to principal and interest by, the United States
government or any agency thereof.
(b) For the purposes of this act the director of investments may accept funds, public
or private, from any person, firm, corporation or from any state agency or other public
instrumentality, or from the federal government or any department or agency thereof.
(c) All moneys in the self-insurance reserve fund, or payable to such fund, are hereby
specifically exempt from any and all taxes authorized by law to be levied or collected,
whether sales, income, ad valorem, premium or by whatever name described.
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