{"data":{"id":"us-ok/okla.-stat.-tit.-3-3-516","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 3, § 3-516","heading":"Transfer of Commission members to Board of Directors —","body":"Qualifications and terms — Transfer of personnel to Department.\n\nA. On and after the effective date of this act, the Oklahoma\n\nAerospace and Aeronautics Commission of the Oklahoma Department of\n\nAerospace and Aeronautics shall become the Board of Directors of the\n\nOklahoma Space Industry Development Authority. The qualifications\n\nand terms of office of the Board members shall be identical to the\n\nqualifications and terms of office of the Commission members. On\n\nand after the effective date of this act, persons currently\n\nappointed to the Commission shall also become members of the Board.\n\nThe funds of the Department and the Authority shall not be\n\ncommingled and shall be separately accounted for, and they shall be\n\nconsidered and treated as separate legal entities.\n\nB. Each member shall be reimbursed for expenses incurred in the\n\nperformance of duties on behalf of the Authority as provided for in\n\nthe State Travel Reimbursement Act.\n\nC. Before the issuance of any revenue bonds under the\n\nprovisions of the Oklahoma Space Industry Development Act, each\n\nmember of the Board shall execute a surety bond in the penal sum of\n\nTwenty-five Thousand Dollars ($25,000.00). Each such surety bond\n\nshall be conditioned upon the faithful performance of the duties of\n\nthe member’s office, shall be executed by a surety company\n\nauthorized to transact business in this state as surety, and shall\n\nbe filed in the Office of the Secretary of State.\n\nD. All personnel of the Authority are hereby transferred to the\n\nDepartment and shall become employees of the Department. In order\n\nto carry out the mission of the Authority, the Board shall enter\n\ninto an agreement with the Oklahoma Department of Aerospace and\n\nAeronautics to provide the Authority’s administrative and staff\n\nservices. The Board may elect to replace or merge any existing\n\ncontract for services that the Authority has with an existing\n\ncontract that the Oklahoma Department of Aerospace and Aeronautics\n\nhas to provide administrative efficiency; provided, that such\n\ncontract is for the same or similar service and the funds expended\n\nby each entity can be accounted for.\n\nE. The Director of the Oklahoma Department of Aerospace and\n\nAeronautics shall serve as the chief executive officer of the\n\nOklahoma Space Industry Development Authority.","path":["OK Code","Title 3"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os3.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"efab13a4a06b8b0ef76b7faa33754a81b549232b3aa4a78ae34a70c717236995","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-3-3-515","next":"us-ok/okla.-stat.-tit.-3-3-517"},"notice":"GroundRules: Original legal text. Not legal advice."}