Okla. Stat. tit. 70, § 70-5-117.7: Casualty and flood insurance recovery fund to purchase

high-deductible property insurance policy.

A. Pursuant to the powers and duties granted by paragraph 8 of

subsection A of Section 5-117 of Title 70 of the Oklahoma Statutes,

the board of education of each school district may establish a

casualty and flood insurance recovery fund for the purpose of

purchasing a high-deductible property insurance policy.

B. Monies for the casualty and flood insurance recovery fund

shall be transferred from the school district general fund, as

defined in Section 1-117 of Title 70 of the Oklahoma Statutes. The

amount of monies transferred from the general fund shall not exceed

the amount of the high-deductible property insurance policy

deductible.