Okla. Stat. tit. 70, § 70-4103.1: Tuition Recovery Revolving Fund

There is hereby created in the State Treasury a revolving fund

for the Oklahoma State Regents for Higher Education to be designated

the “Tuition Recovery Revolving Fund”. The fund shall be a

continuing fund, not subject to fiscal year limitations, and shall

consist of all monies received by the State Regents from fees

collected pursuant to Section 4103 of Title 70 of the Oklahoma

Statutes. All monies accruing to the credit of the fund are hereby

appropriated and may be budgeted and expended by the State Regents

for the purpose of offsetting student tuition losses in the event

that an institution authorized pursuant to Section 4103 of Title 70

of the Oklahoma Statutes closes or ceases operations. Expenditures

from the fund shall be made upon warrants issued by the State

Treasurer against claims filed as prescribed by law with the

Director of the Office of Management and Enterprise Services for

approval and payment.