{"data":{"id":"us-ok/okla.-stat.-tit.-2-2-4021","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 2, § 2-4021","heading":"Authority to lease real property — Contingencies —","body":"Transfer of title to Trust.\n\nA. Contingent upon the creation of the Oklahoma State\n\nUniversity Veterinary Medical Trust as provided in Section 20 of\n\nthis act, the Oklahoma State University Veterinary Medicine\n\nAuthority is hereby authorized to lease, for a term of not more than\n\nfifty (50) years, renewable at the option of the Authority, all real\n\nproperty owned by the Authority and any other sites under the\n\ncontrol of the Authority to the Oklahoma State University Veterinary\n\nMedical Trust. Any lease agreement made pursuant to this section\n\nshall be contingent upon:\n\n1. Prior review by the Attorney General of any contractual\n\nagreement between the Oklahoma State University Veterinary Medical\n\nTrust and any entity authorized to transact business in the State of\n\nOklahoma regarding the lease and operations. The Attorney General\n\nshall disapprove the agreement if it is determined that provisions\n\nof the agreement are not consistent with state law; and\n\n2. The execution of an operating and lease agreement between\n\nthe Oklahoma State University Veterinary Medical Trust and any\n\nentity authorized to transact business in the State of Oklahoma.\n\nB. Concurrent with the execution of a lease of real property\n\nfrom the Oklahoma State University Veterinary Medicine Authority to\n\nthe Oklahoma State University Veterinary Medical Trust as provided\n\nin subsection A of this section, the Authority is authorized to\n\ntransfer title to and possession of all tangible and intangible\n\npersonal property under its control to the Trust. In any\n\ncontractual agreement regarding the lease and operations of an\n\nanimal hospital or hospitals between the Oklahoma State University\n\nVeterinary Medical Trust and any entity authorized to transact\n\nbusiness in the State of Oklahoma, the Trust is authorized to sell\n\nor otherwise convey to such entity all tangible and intangible\n\npersonal property the Trust may receive from the Oklahoma State\n\nUniversity Veterinary Medicine Authority. Any contract or other\n\nagreement which purports to exercise the powers authorized by this\n\nsubsection is subject to review by the Contingency Review Board, as\n\nspecified in Section 21 of this act.\n\nC. If a contracting entity fails to take possession of the\n\nleased premises, or abandons or surrenders possession of the leased\n\npremises other than to a state agency, at any time during the term\n\nof the lease between the Oklahoma State University Veterinary\n\nMedical Trust and the contracting entity, the interest in the real\n\nproperty leased to the Oklahoma State University Veterinary Medical\n\nTrust by the Oklahoma State University Veterinary Medicine Authority\n\nshall revert to and be the sole and exclusive property of the\n\nOklahoma State University Veterinary Medicine Authority.\n\nD. Contingent upon the execution of an agreement between the\n\nOklahoma State University Veterinary Medical Trust and any entity\n\nauthorized to transact business in the State of Oklahoma, as\n\nspecified in subsection A of this section, the Oklahoma State\n\nUniversity Veterinary Medicine Authority is authorized to enter into\n\nan agreement for such entity to provide animal patient care services\n\nand perform other related duties imposed upon the Oklahoma State\n\nUniversity Veterinary Medicine Authority by law. Such an agreement\n\nbetween the Oklahoma State University Veterinary Medicine Authority\n\nand such entity is exempt from the requirements of the Oklahoma\n\nCentral Purchasing Act and any rules adopted by the Oklahoma State\n\nUniversity Veterinary Medicine Authority pursuant to the\n\nAdministrative Procedures Act. The governing committee created by\n\nthe agreement and the Oklahoma State University Veterinary Medical\n\nTrust shall be subject to the Open Meeting Act and the Oklahoma Open\n\nRecords Act to the same extent and with the same exceptions as\n\nprovided for the Oklahoma State University Veterinary Medicine\nPage 792\n\nUniversity Veterinary Medicine Authority pursuant to the\n\nAdministrative Procedures Act. The governing committee created by\n\nthe agreement and the Oklahoma State University Veterinary Medical\n\nTrust shall be subject to the Open Meeting Act and the Oklahoma Open\n\nRecords Act to the same extent and with the same exceptions as\n\nprovided for the Oklahoma State University Veterinary Medicine\n\nAuthority in Section 5 of this act and shall be exempt from the\n\nOklahoma Central Purchasing Act.","path":["OK Code","Title 2"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os2.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"5bb940405385cb7167f70c6aeaf3f3a5e0668e1ce930fd30ea1f8b70760a2cee","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-2-2-4020","next":"us-ok/okla.-stat.-tit.-2-2-4022"},"notice":"GroundRules: Original legal text. Not legal advice."}