{"data":{"id":"us-ok/okla.-stat.-tit.-3-3-85.4","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 3, § 3-85.4","heading":"Oklahoma Aerospace Foundation","body":"\n\nA. There is hereby authorized the establishment of a not-for-\n\nprofit foundation, to be known as the Oklahoma Aerospace Foundation,\n\nfor the purpose of encouraging contributions for the educational and\n\nindustry outreach and development initiatives of the Oklahoma\n\nDepartment of Aerospace and Aeronautics. Such support from a not-\n\nfor-profit shall be supplementary to any state funding received by\n\nthe Department and shall be a means to further assist in the\n\ndevelopment of the aviation and aerospace industry in the state.\n\nB. The Oklahoma Aerospace Foundation, created pursuant to this\n\nsection, may receive contributions from any public or private source\n\nto carry out the purposes of this act including, but not limited to,\n\ngifts or grants from private individuals, companies, foundations,\n\ncorporations, and others in the private and public sectors.\n\nC. Upon incorporation, the Oklahoma Aerospace Foundation shall\n\nsecure tax-exempt status under the appropriate provision of Section\n\n501(c) of the Internal Revenue Code, 26 U.S.C., Section 501(c).\n\nD. No employee of the Oklahoma Department of Aerospace and\n\nAeronautics shall be a voting member of the board of the Oklahoma\n\nAerospace Foundation. Any member of the Foundation who may have a\n\nfinancial interest in an action under consideration by the\n\nFoundation shall abstain from voting on such matter.\n\nE. The Oklahoma Aerospace Foundation shall make all its\n\nfinancial records and documents including work papers, except for\n\nthe names of donors and other privileged materials, available to\n\nauditors who are performing audits of the Oklahoma Department of\n\nAerospace and Aeronautics.","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":"645c9c190145417684d8ba1878c3de4de376f0701b747e2a132e136cdf7cfd56","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-3-3-85.3","next":"us-ok/okla.-stat.-tit.-3-3-85v1"},"notice":"GroundRules: Original legal text. Not legal advice."}