(a) Except as provided in subsection (c) of this section, all moneys paid from the pension and relief fund for paid nonuniformed employees shall be paid by the treasurer only upon warrants signed by the chair and countersigned by the secretary thereof.
(b) Except as provided in subsection (c) of this section, no warrant shall be drawn except by the order of the board of trustees of the pension and relief fund for paid nonuniformed employees, and interest accruing from the fund, while on deposit or otherwise, shall constitute a part of the fund.
(c) In a pension and relief fund for paid nonuniformed employees in which the board has employed a trustee or custodian under § 24-12-109(c) to hold the assets, the trustee or custodian may pay benefits to persons and beneficiaries entitled to benefits under the fund as directed by the board.
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