{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-71.1","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-71.1","heading":"Invest in Oklahoma Board — Members — Duties","body":"A. There is hereby created the Invest in Oklahoma Board. The\n\nBoard shall consist of five (5) members as follows:\n\n1. The Governor, or designee;\n\n2. The Lieutenant Governor, or designee;\n\n3. The State Treasurer, or designee;\n\n4. An appointee of the Speaker of the House of Representatives\n\nwho shall serve at the Speaker's pleasure; and\n\n5. An appointee of the President Pro Tempore of the Oklahoma\n\nState Senate who shall serve at the President Pro Tempore's\n\npleasure.\n\nB. The appointed and designated members shall have no direct or\n\nindirect business relationship with the State Treasurer or the State\n\nTreasurer's Office.\n\nC. The Governor or Governor's designee shall serve as\n\nchairperson.\n\nD. The Board shall hold regular meetings not less than one per\n\nquarter, and at such other times as it deems necessary for the\n\nperformance of its duties. The date, time and place of the meetings\n\nshall be set by the chairperson. The State Treasurer shall provide\n\nthe administrative support required by the Board. The Board shall\n\nbe staffed by efforts under the control of the State Treasurer who\n\nshall prepare all materials and information needed by the Board to\n\nperform its duties and responsibilities. Meetings of the Board\n\nshall be subject to the Oklahoma Open Meeting Act, and their records\n\nshall be public records pursuant to the Oklahoma Open Records Act.\n\nE. The Board shall develop a standardized and uniform reporting\n\nsystem which the State Treasurer shall use to make the reports\n\nrequired by Section 89.7 of this title. The Board shall prescribe\n\nsuch forms in order to obtain an objective and accurate analysis of\n\nthe investment of state funds by the State Treasurer and to obtain\n\nan accurate analysis of investment performance according to an\n\nobjective standard established by the Board. The Board shall not be\n\nsubject to the provisions of the Administrative Procedures Act for\n\npurposes of developing the reporting system required by this\n\nsubsection. The Board shall review the reports prepared by the\n\nState Treasurer pursuant to Section 89.7 of this title. The Board\n\nshall review with the State Treasurer investment strategies and\n\npractices and the development of internal auditing procedures and\n\npractices. The Board shall review the reports submitted by the\n\nState Treasurer and shall identify any event, transaction or trend\n\nwhich the Board determines to represent a violation or potential\n\nviolation of law or public policy regarding the investment of state\n\nfunds. The Board shall specifically identify its concerns or\n\nobjections and shall communicate such concerns or objections in\n\nwriting to the State Treasurer.\n\nF. The State Treasurer shall maintain a report available to\n\neach member of the Board which specifically identifies entities with\n\nwhom or with which the State Treasurer has transacted business\n\nrelated to investment of any state funds. Any person or entity to\n\nwhom or to which any form of compensation has been or will be paid\n\nfor services rendered to the State Treasurer's Office related to the\n\ninvestment of state funds shall be identified in such report. Such\n\nreport shall also be available to the Director of the Office of\n\nManagement and Enterprise Services, the State Auditor and Inspector,\n\nthe Speaker of the House of Representatives, the President Pro\n\nTempore of the Senate and the Governor.\n\nG. Members of the Board shall serve without compensation,\n\nexcept for travel, pursuant to the State Travel Reimbursement Act,\n\nto be paid by the appointing authority.\n\nH. The Board shall establish and adopt investment parameters\n\nrelated to investments in Oklahoma-based private equity funds,\n\nventure capital funds, growth funds, and direct investments in\n\nOklahoma companies authorized under the Invest in Oklahoma program;\n\nprovided that by a unanimous vote of the Board such parameters may\n\nbe exceeded with regard to investments to the extent allowable under\nty.\n\nH. The Board shall establish and adopt investment parameters\n\nrelated to investments in Oklahoma-based private equity funds,\n\nventure capital funds, growth funds, and direct investments in\n\nOklahoma companies authorized under the Invest in Oklahoma program;\n\nprovided that by a unanimous vote of the Board such parameters may\n\nbe exceeded with regard to investments to the extent allowable under\n\nthe Oklahoma Constitution.\n\nI. The Board shall exercise confirmation and approval authority\n\nover the appointment and contractual relationships of qualified\n\ninvestment advisors and fiduciary managers engaged by the State\n\nTreasurer to assist in the selection of the investments authorized\n\nunder the Invest in Oklahoma program.","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":"620863a1c433aba7737bb2cdaf93a83ba696aa6b802ecc6636a9f741b715fea3","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-71","next":"us-ok/okla.-stat.-tit.-62-62-71.2"},"notice":"GroundRules: Original legal text. Not legal advice."}