{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-2307","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-2307","heading":"Determination of earnings","body":"A. On or before September 1 of each year, the Board of\n\nInvestors of the Tobacco Settlement Endowment Trust Fund shall\n\ndetermine the earnings of the trust fund for the previous fiscal\n\nyear ending June 30. In determining earnings, the Board of\n\nInvestors shall certify an amount which is prudent under the\n\nstandard set forth in paragraph C of this section. The earnings so\n\ndetermined and certified by the Board of Investors for each fiscal\n\nyear shall constitute the earnings of the Tobacco Settlement\n\nEndowment Trust Fund for the purposes of Section 40 of Article X of\n\nthe Oklahoma Constitution.\n\nB. “Earnings” consist of dividends and interest, less fees to\n\nmanage the fund.\n\nC. In the administration of the powers to determine earnings,\n\nto make and retain investments, and to delegate investment\n\nmanagement of institutional funds, the Board of Investors shall\n\nexercise ordinary business care and prudence under the facts and\n\ncircumstances prevailing at the time of the action or decision. In\n\nso doing, the Board of Investors shall consider:\n\n1. Long- and short-term needs of the trust fund in carrying out\n\nits purposes;\n\n2. The present and anticipated financial requirements for\n\nprograms funded by the Board of Directors of the Tobacco Settlement\n\nEndowment Trust Fund;\n\n3. Expected total return on its investments;\n\n4. Price level and inflation trends; and\n\n5. General economic conditions.","path":["OK Code","Title 62"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os62.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"d84d69a8d179328c05e0e750cdd53cd0d63582affc7da88220498bf35fd4f5fd","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-2306","next":"us-ok/okla.-stat.-tit.-62-62-2308"},"notice":"GroundRules: Original legal text. Not legal advice."}