{"data":{"id":"us-ok/okla.-stat.-tit.-11-11-50-132","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 11, § 11-50-132","heading":"Assets of Fund - Contents - Right to assets -","body":"Valuation.\n\nThe assets of the Fund shall consist of such assets and the\n\nincome therefrom, including such contributions as shall from time to\n\ntime be made to the State Board by each municipality, or property\n\nfor which any of the same shall be exchanged or into which any of\n\nthe same shall be converted, together with any other assets held\n\nfrom time to time hereunder by the State Board. All legal right,\n\ntitle and interest in and to the assets of the Fund shall at all\n\ntimes be held in trust and vested exclusively in the State Board or\n\nits nominee and no municipality shall be deemed to have severable\n\nownership of any asset of the Fund or any right of partition or\n\npossession.\n\nThe State Board shall appraise and place valuation upon the\n\nassets of the Fund held by it as of the last business day of each\n\nmonth. Any assets not held by the State Board shall be appraised\n\nand valued by the Executive Director on said date.\n\nThe valuation of all assets of the Fund shall be both at cost\n\nand at the fair market value thereof, as determined by reference to\n\nthe best available source or sources, in the opinion of the\n\nExecutive Director and the State Board and both the Executive\n\nDirector and State Board may rely on figures, or statements\n\nappearing in any reputable publication purporting to state sales\n\nprices, market quotations, values, bid and asking prices or any\n\nfacts affecting values and upon the opinion of one or more persons\n\nfamiliar with the reasonable market value of any assets to be valued\n\nand shall incur no liability for error in any such valuation made in\n\ngood faith. The reasonable and equitable decision of the Executive\n\nDirector and State Board regarding the method used in determining\n\nvalues shall be conclusive and binding upon all persons, natural or\n\nlegal, having interest, direct or indirect, in the Fund's assets.\n\nUpon termination or partial termination of the System, or a\n\npermanent discontinuance of contributions, the benefits accrued up\n\nto the date of termination by the affected members and their\n\nbeneficiaries, respectively, shall be nonforfeitable.","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":"97682ca8cfd6987b7f726d8be23b66c08112e306408186cf623457b86caa2912","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-11-11-50-131","next":"us-ok/okla.-stat.-tit.-11-11-50-133"},"notice":"GroundRules: Original legal text. Not legal advice."}