§ 1.06. Payments from fund.

The Davidson County Trustee shall be the custodian of the Fund. All registered securities of the Fund shall be registered in the name of the Davidson County Pension System; every change in registration, by reason of sale or assignment of such securities, shall be accomplished by the authorized signatures of members of the pension commission; and such securities shall be delivered by the Davidson County Trustee when directed in writing by the pension commission. All payments from the Fund shall be made on authority of the pension committee. For the purpose of making payments from the Fund, there may be kept available sufficient cash on deposit to the credit of the system in one (1) or more banks or trust companies located in Davidson County, organized under the laws of Tennessee or of the United States, and qualified as State depositories.