Okla. Stat. tit. 63, § 63-3290: Oklahoma State University Medical Trust

A. The State of Oklahoma expressly approves the creation of a

public trust to be named the “Oklahoma State University Medical

Trust”, of which the State of Oklahoma shall be the beneficiary,

provided such approval shall be contingent upon satisfaction of the

following conditions:

1. Finalizing of the declaration of trust;

2. Adoption of the declaration of trust by an official action

of the trustees of the Trust;

3. Submission of the Trust for acceptance of the beneficial

interest and approval as required by Section 177 of Title 60 of the

Oklahoma Statutes; and

4. The approved declaration of trust shall:

a. clearly state that the principal purpose of the

Oklahoma State University Medical Trust is to

effectuate the purposes of the Oklahoma State

University Medical Authority as established in the

Oklahoma State University Medical Authority Act,

b. except as otherwise provided by law, provide that the

title to real property held by the Oklahoma State

University Medical Authority shall not be transferred,

conveyed, or assigned to the Oklahoma State University

Medical Trust without the express consent of the

Legislature as the governing entity of the beneficiary

pursuant to Section 176 of Title 60 of the Oklahoma

Statutes,

c. provide that any indebtedness incurred by the Oklahoma

State University Medical Trust or the trustees of the

Trust shall not be secured with or create a lien upon

real property to which title is held by the Oklahoma

State University Medical Authority and shall not

involve the bonding capacity of the Oklahoma State

University Medical Authority,

d. provide that the trust estate of the Oklahoma State

University Medical Trust shall not include fee simple

title to real property owned by the Oklahoma State

University Medical Authority,

e. clearly state that the creation of the Oklahoma State

University Medical Trust shall not in any way reduce,

limit or interfere with the power granted to the

Oklahoma State University Medical Authority in the

Oklahoma State University Medical Authority Act,

f. provide that any lease or contractual agreement

involving use of the real property to which title is

held by the Oklahoma State University Medical

Authority and any improvements thereto shall contain a

provision and covenants requiring the proper

maintenance and upkeep of the real property and

improvements,

g. provide that the trustees of the Oklahoma State

University Medical Trust shall be the acting members

of the Oklahoma State University Medical Authority as

provided in the Oklahoma State University Medical

Authority Act, and

h. provide that the trustees of the Oklahoma State

University Medical Trust shall have the duty to submit

an annual report to the Governor, the President Pro

Tempore of the Oklahoma State Senate and the Speaker

of the Oklahoma House of Representatives. The report

shall be submitted by January 1 of each year and shall

include an account of all operations, actions of the

Trust, account of all revenue received and disbursed

by the Trust for the previous fiscal year. The report

shall also provide a complete accounting of how the

Trust meets its primary function of effectuating the

purposes of the Oklahoma State University Medical

Authority, as established in the Oklahoma State

University Medical Authority Act.

B. The Oklahoma State University Medical Trust shall require

any agreements which it enters into with any entity pursuant to

Section 3292 of this title for the operations of facilities leased

by the Oklahoma State University Medical Authority to the Trust to

include, but not be limited to:

1. The inclusion of all the members of the Trust, except the

Chief Executive Officer of the Oklahoma Health Care Authority, as

five of the six members representing the State of Oklahoma in a

governing committee, and the sixth member of the governing committee

the operations of facilities leased

by the Oklahoma State University Medical Authority to the Trust to

include, but not be limited to:

1. The inclusion of all the members of the Trust, except the

Chief Executive Officer of the Oklahoma Health Care Authority, as

five of the six members representing the State of Oklahoma in a

governing committee, and the sixth member of the governing committee

representing the State of Oklahoma to be designated by the President

of Oklahoma State University;

2. Binding arbitration shall not be required by such agreements

for resolving issues under consideration by the governing committee;

and

3. Major decisions shall be resolved by the governing

committee, and approval of any major decision by the governing

committee must include the approval of a majority of the state

appointees and the approval of a majority of the private entity

appointees to the governing committee. Major decisions shall

include:

a. approval of the operating and capital budgets,

b. sale or disposition of assets over Five Hundred

Thousand Dollars ($500,000.00),

c. the termination or transfer or material addition or

material diminution of medical services at the

Oklahoma State University Medical Center related to

and part of a teaching program of the Oklahoma State

University Center for Health Sciences, and

d. other major decisions as may be agreed upon by the

Trust and the private entity.

C. To the extent it is determined by legislative enactment that

the Trust has expended funds in contravention of its mission as set

forth in this section, the Trust shall remit, upon thirty (30) days’

written notice from the Oklahoma State University Medical Authority,

such sum or sums to the Oklahoma State University Medical Authority.

D. In the event the Trust enters into a joint venture or

acquires an interest in a not-for-profit entity to effectuate the

administration of the mission of the Trust, that entity shall not be

subject to the Oklahoma Open Meeting Act and the Oklahoma Open

Records Act. Any information submitted to or compiled by the Trust

with respect to marketing plans, financial statements, trade

secrets, research concepts, methods or products or any other

proprietary information submitted to or compiled by the Trust,

persons, firms, associations, partnerships, agencies, corporations,

institutions of higher education, nonprofit research institutions or

other entities shall be confidential, except to the extent that the

person or entity which provided such information or which is the

subject of such information consents to disclosure. Executive

sessions may be held to discuss such materials if deemed necessary

by the Trust. The provisions of this subsection shall not apply to

budgetary information related to appropriations or the

appropriations process.