(1) The asbestos inspection fund is created in the state treasury.

    (2) The state treasurer may receive money or other assets from any source for deposit into the asbestos inspection fund. The state treasurer shall direct the investment of money in the fund and credit to the fund interest and earnings from the investments.

    (3) The department is the administrator of the asbestos inspection fund for audits of the fund. The department shall expend money from the fund, upon appropriation, only to conduct inspections and related activities under section 5519.