Okla. Stat. tit. 70, § 70-2291: William P. Willis Trust Fund

A. There is hereby created a trust fund to be known as the

"William P. Willis Trust Fund". The Trust Fund shall be managed and

controlled by a Board of Trustees. The Oklahoma State Regents for

Higher Education shall constitute the Board of Trustees of the

William P. Willis Trust Fund.

B. The trust capital shall consist of:

1. any monies the Legislature may appropriate and transfer to

the Trust Fund; and

2. any monies or assets contributed to the Trust Fund from any

other source.

C. The Board of Trustees shall invest the trust capital in a

reasonable and prudent manner which, consistent with any long-term

investment needs, will produce the greatest trust income over the

term of the investment while preserving the trust capital.

D. All trust income shall be deposited in the William P. Willis

Scholarship Fund to be used for the payment of scholarships awarded

from said Fund.