The Commissioner shall have full power and authority to manage and conduct all business and affairs relating to the State Insurance Fund, all of which business and affairs shall be conducted under the name of the State Insurance Fund, and in that name and without any other name or title, the Commissioner may:

1. (1) Sue and be sued in all the courts of the state, in all actions arising out of any act, deed, matter or things made, omitted, entered into, done or suffered in connection with the State Insurance Fund, and administer, manage, or conduct all the business and affairs relating thereto.
2. (2) Make and enter into contracts of insurance as herein provided, and such other contracts or obligations relating to the State Insurance Fund, as are authorized or permitted under the provisions of this act.
3. (3) Invest and reinvest the monies belonging to the State Insurance Fund as hereinafter provided.
4. (4) Conduct all business and affairs, relating to the said State Insurance Fund, whether herein specifically designated or in addition thereto.
5. (5) The Commissioner may delegate to any officer of the State Insurance Fund, under such rules and regulations, and subject to such conditions as he may from time to time prescribe, any of the powers, functions or duties conferred or imposed on the Commissioner under the provisions of this act in connection with the State Insurance Fund, the administration, management and conduct of the business or affairs relating thereto, and the officer or officers to whom such delegation is made may exercise the power and functions and perform the duties delegated with the same force and effect as the Commissioner, but subject to his approval.
6. (6) The Board of Managers of the State Insurance Fund shall not, nor shall the Commissioner or any officer or employee of the State Insurance Fund be personally liable in his private capacity for or on account of any act performed or contract or other obligation entered into or undertaken in an official capacity in good faith and without intent to defraud, in connection with the administration, management or conduct of the State Insurance Fund, its business or other affairs relating thereto.

Laws 1933, SB 151, c. 28, p. 59, § 1; Amended by Laws 1937, HB 69, p. 546, § 5, emerg. eff. May 14, 1937.