1 (3) Receive a n y consideration for his own personal account from a n y party dealing with such fund in connection with a transaction involving t h e assets of t h e fund. (D) I n addition to a n y liability which h e may have under any other provision, a fiduciary with respect to t h e fund shall be liable for a breach of fiduciary responsibility of any fiduciary with respect to t h e fund in t h e following circumstances: (1) If he participates knowingly in, o r knowingly undertakes to conceal, a n act o r omission of such o t h e r fiduciary, knowing such a c t or omission is a breach; (2) If, by his failure t o comply with Chapter 742. of t h e Revised Code, h e has enabled such other fiduciary t o commit a I breach~~or If he has knowledge of a breach by such other fidu(3) ciary, unless he makes reasonable efforts under t h e circumstances t o remedy t h e breach. (E) Every fiduciary of t h e fund shall be bonded o r insured 1 to a n amount of not less t h a n one million dollars for loss by rea- I son of acts of fraud or dishonesty. I 1 See. 742.112: (A) ~ x e e a~s provided t in division (B) of this section, a fiduciary shall not cause t h e POLICE AND F I R E MEN'S DISABILITY AND PENSION fund to engage in a transaction, if he knows o r should know t h a t such transaction constitutes a direct or indirect: I (1) Sale o r exchange, o r leasing, of a n y property between, .t h e fund and a party in interest; (2) Lending of money or other extension of credit between the fund and a party & I N interest; (3) Furnishing of goods, services, o r facilities between t h e fund and a party & 1N.interest; (4) Transfer to, o r use by o r for t h e benefit of a party 4IN interest, of a n y assets of t h e fund; o r (5) Acquisition, on behalf of t h e fund, of a n y employer security or employer real property. I (B) Nothing in this section shall prohibit any transaction 1 between t h e police and firemen's disability a n d pension fund and any fiduciary or party in interest if: 1 (1) All t h e terms and conditions of t h e transaction a r e , comparable t o t h e terms and conditions which might reasonably be expected in a similar transaction between similar parties who a r e not parties in i n t e r e s t c a n d (2) The transaction is consistent with the fiduciary duties described in Chapter 742. of t h e Revised Code. (C) A fiduciary shall not: (1) Deal with t h e assets of the fund i n his own interest o r for his own account; 1 (2) I n his individual or in a n y other capacity, act in any transaction involving t h e fund on behalf of a party (or represent 1 a party) whose interests a r e adverse t o t h e interests of t h e fund l o r t h e interests of its participants or b e n e f i ~ i a r i e s ~ i o r 1 I I , ' --- t SECTION 13. This a c t is hereby declared t o be an emergency m e a s u r e necessary for t h e public peace, health, a n d safety. T h e reason for this necessity lies in t h e fact t h a t all legislation subsequently enacted by the General Assembly m u s t be in conformity with this act. The provisions of this a c t should be immediately effective in order not t o delay legislative consideration of other public business. Therefore, t h i s a c t shall go into immediate effect. - j , !