Okla. Stat. tit. 74, § 74-5064.8: Inventors and Entrepreneurs Program Fund

A. There is hereby created in the State Treasury a separate

revolving fund for the Oklahoma Department of Commerce, to be

designated the "Inventors and Entrepreneurs Program Fund". The fund

shall be a continuing fund, not subject to fiscal year limitations,

and shall consist of all monies received by the Department for

implementation of this act from all funds appropriated thereto by

the Legislature, all fees received pursuant to this act, any federal

funds, gifts, private and matching funds and all contributions

dedicated thereto from private, state, federal or whatever source.

All monies accruing to the credit of said fund are hereby

appropriated and may be budgeted and expended by the Department for

the purpose of implementing this act; however, monies expended for

administrative costs shall not exceed five percent (5%) of the total

amount of monies in said fund. Any amount in said fund not directly

needed to implement the provisions of this act shall go to the

General Revenue Fund of the state. Expenditures from said 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.

B. On July 1, 1998, the Inventors and Entrepreneurs Program

Fund shall be abolished and any unencumbered funds remaining in the

Inventors and Entrepreneurs Program Fund shall be transferred to the

credit of the OCAST Research Support Revolving Fund. Any unexpended

funds remaining in the Inventors and Entrepreneurs Program Fund

after November 1, 1998, shall be transferred to the credit of the

OCAST Research Support Revolving Fund.