{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-562","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-562","heading":"Municipalities - Investment of sinking funds - Disposition","body":"of interest or dividends.\n\nNotwithstanding the provisions of Section 399, Section 541 and\n\nSection 544 of this Title 62, incorporated cities, towns or\n\nmunicipalities possessing sinking funds may, when authorized so to\n\ndo by the lawfully constituted governing body of such city, town or\n\nmunicipality, invest such sinking funds, when such funds are not\n\nrequired for the payment or purchase of bonds, in bonds of the\n\nUnited States, bonds of the State of Oklahoma or in any type of\n\ninterest or dividend-bearing account in a sum covered by the terms\n\nof the Federal Deposit Insurance Corporation, or The Federal Savings\n\nand Loan Insurance Corporation. Providing further, that any\n\ninterest or dividends accruing to the benefit of an incorporated\n\ncity, town or municipality from the investment of such sinking funds\n\nmay be credited to the general fund of such city, town or\n\nmunicipality.","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":"512e3ee32ebb997d107f0b251fd24440f80d0ffb97d7cccad10147fab00118e1","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-561","next":"us-ok/okla.-stat.-tit.-62-62-57.10"},"notice":"GroundRules: Original legal text. Not legal advice."}