§514A-133  Management of fund.  (a)  The sums received by the commission for deposit in the condominium management education fund shall be held by the commission in trust for carrying out the purpose of the fund.

     (b)  The commission and the director of commerce and consumer affairs may use moneys in the condominium management education fund to employ necessary personnel not subject to chapter 76 for additional staff support, to provide office space, and to purchase equipment, furniture, and supplies required by the commission to carry out its responsibilities under this part.

     (c)  The moneys in the condominium management education fund may be invested and reinvested together with the real estate education fund established under section 467-19 in the same manner as are the funds of the employees retirement system of the State.  The interest from these investments shall be deposited to the credit of the condominium management education fund.

     (d)  The commission shall annually submit to the legislature, prior to the convening of each regular session:

     (1)  A summary of the programs funded during the prior fiscal year and the amount of money in the fund, and

     (2)  A copy of the budget for the current fiscal year, including summary information on programs which were funded or are to be funded. [L 1989, c 285, pt of §1; am L 1990, c 283, §4; am L 2000, c 253, §150]