(1) Except as provided in subsection (b) of this section, payments provided for in this act shall be made monthly upon proper vouchers and in such manner as provided for in other disbursements of the city or town.
(2) In a firemen's relief and pension fund in which the board of trustees of the firemen's relief and pension fund has employed a trustee or custodian under § 24-11-805(d) 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.