(1) The treasurer of the farm bureau shall give bond, with security, the amount of which shall be fixed by the board of directors at double the amount of money likely to come into his hands. The bond shall be filed with the county clerk and be recorded without fee. In no case shall the bond of the treasurer be less than one thousand dollars ($1,000).
(2) The treasurer shall receive all funds belonging to the farm bureau and all appropriations made by the fiscal court. He shall pay out the funds of the farm bureau only on bills allowed by the board of directors or by the executive committee of the board of directors. The allowance shall be certified to by the president or secretary.
(3) No treasurer shall in any manner convert the funds or property of a farm bureau to his own use or pay out or dispose of the same in any manner different than as directed by KRS 247.240 to 247.320.