{"data":{"id":"us-ok/okla.-stat.-tit.-11-11-50-106","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 11, § 11-50-106","heading":"General powers of State Board","body":"The State Board shall, in addition to other powers herein\n\ngranted, have power to:\n\n1. Compel witnesses to attend and testify before it upon all\n\nmatters connected with the operations of this article or ordinances\n\nenacted by any municipality relative to the System, and in the same\n\nmanner as is or may be provided by law for the taking of testimony\n\nbefore notaries public; and its Chairman or any member of the State\n\nBoard may administer oaths to such witnesses;\n\n2. Provide for the payment of all its necessary expenses, and\n\npay for actuarial, legal and such other services as shall be\n\nrequired to transact the business of the System;\n\n3. Provide all rules and regulations necessary for its guidance\n\nin conformity with the provisions of this article including the\n\nphysical requirements for eligibility for initial membership in the\n\nSystem. In connection with such authority, on or after July 1,\n\n2011, the State Board may permit, effective for applicable notices,\n\nelections and consents provided or made for a member, beneficiary,\n\nalternate payee or individual entitled to benefits under the System,\n\nthe use of electronic media to provide such applicable notices and\n\nmake such elections and consents as described in Section 1.401(a)-21\n\nof the Income Tax Regulations;\n\n4. For the purpose of meeting disbursements for pensions and\n\nother payments, to keep on deposit in one or more banks, trust\n\ncompanies or savings and loan associations, to the extent that such\n\ndeposit is insured, what it considers an adequate amount of cash.\n\nNo trustee or employee of the State Board shall, directly or\n\nindirectly, for himself or as an agent, in any manner use the assets\n\nof the System, except to make such current and necessary payments as\n\nare authorized by the State Board, nor shall any trustee or employee\n\nof the State Board become an endorser or surety or become in any\n\nmanner an obligor for monies loaned by or borrowed from the State\n\nBoard; and\n\n5. Effective July 1, 1999, do all acts and things necessary and\n\nproper to carry out the purpose of the System and to make the least\n\ncostly amendments and changes, if any, as may be necessary to\n\nqualify the System under the applicable sections of the Internal\n\nRevenue Code of 1986, as amended.","path":["OK Code","Title 11"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os11.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"e34d63e3000cfc8a98d49c5310ae7a6670ec1337b4581314c71ad98f66dc7bc2","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-11-11-50-105.6","next":"us-ok/okla.-stat.-tit.-11-11-50-106.3"},"notice":"GroundRules: Original legal text. Not legal advice."}