The board of agriculture may by resolution provide that all moneys deposited by it shall be secured:

(1) By any securities by which funds deposited by the director of finance of the State may be legally secured, as provided in § 38-3; or
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Terms Used In Hawaii Revised Statutes 167-9

(2) By an undertaking with such sureties as shall be approved by the board faithfully to keep and pay over upon the order of the board any such deposits and agreed interest thereon, and all banks and trust companies are authorized to give any such security for the deposits.

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