The State Treasurer, on behalf of the Family and Medical Leave Insurance Trust Fund and for purposes of the trust, shall: (1) Receive and invest moneys in the trust in any instruments, obligations, securities or property in accordance with sections 31-49g to 31-49i , inclusive; (2) Procure insurance as the State Treasurer deems necessary to protect the trust's property, assets, activities or deposits or contributions to the trust; and (3) Apply for, accept and expend gifts, grants or donations from public or private sources to carry out the objectives of the trust.
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