Sec. 2. The director shall do the following:
(1) Maintain a record of the board's proceedings.
(2) Keep the books and records of the system.
(3) Deposit payments made to the system with the custodian for the system's accounts.
(4) Sign vouchers for the payment of money from the system as authorized by the board.
(5) Execute a corporate surety bond in an amount specified by the board. The premium for the bond is an administrative expense of the system.
(6) Perform other duties as assigned by the board.