(1) There is a volunteer board to oversee the administration of the Montana end of watch trust provided for in 2-15-2041 and to determine the eligibility of applicants seeking funds from the trust. The board is attached to the department for administrative purposes only, as provided in 2-15-121.
(2) The board consists of five members appointed by the attorney general, including:
(a) a representative of the Montana sheriffs and peace officers association;
(b) a representative of the Montana police protective association;
(c) a representative of the association of Montana troopers;
(d) a representative of the Montana association of chiefs of police; and
(e) a representative from the department.
(3) The board shall:
(a) meet at least once each fiscal year;
(b) convene as necessary to review applications and determine the eligibility of applicants; and
(c) review the board of investments annual report for the fund.