{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-90","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-90","heading":"Securities lending program - Securities Lending and","body":"Custodial Fee Revolving Fund.\n\nA. The State Treasurer may implement and engage in a securities\n\nlending program. As used in this section, \"securities lending\n\nprogram\" means any program, arrangement or agreement whereby the\n\nstate deposits securities with a federally or state-chartered\n\nsavings and loan association, a trust company, a state or national\n\nbank, or a broker-dealer registered with the National Association of\n\nSecurities Dealers, Inc. and insured by the Securities Investors\n\nProtection Corporation, for the purpose of permitting the financial\n\ninstitution or broker-dealer to lend securities to a borrower\n\napproved by the State Treasurer in return for a fee or charge paid\n\nby the borrower for the use of such securities. All income from\n\nsecurities lending, less fees, shall be deposited into the\n\nSecurities Lending and Custodial Fee Revolving Fund created in this\n\nsection; provided, securities lending income in excess of amounts\n\nnecessary to pay custodial or other banking fees, shall be deposited\n\ninto the General Revenue Fund. Securities loaned under this program\n\nshall be subject to the collateral requirements specified by the\n\nState Treasurer. The State Treasurer must receive collateral equal\n\nto at least one hundred percent (100%) of the market value of the\n\nsecurities loaned, consisting of securities or instruments which the\n\nState Treasurer can purchase pursuant to Section 89.2 of this title.\n\nNothing herein shall be deemed to prohibit the implementation of\n\nsecurities lending programs by the state retirement systems which\n\nare designed and managed by the boards of trustees of such systems.\n\nB. There is hereby created in the State Treasury a revolving\n\nfund for the Office of the State Treasurer, to be designated the\n\n\"Securities Lending and Custodial Fee Revolving Fund\". The fund\n\nshall be a continuing fund, not subject to fiscal year limitations,\n\nand shall consist of any monies transferred thereto by act of the\n\nLegislature and any monies which may be deposited thereto by the\n\nState Treasurer's Office as provided by this section. All monies\n\naccruing to the credit of the fund are hereby appropriated and may\n\nbe budgeted and expended by the Office of the State Treasurer for\n\nthe purposes of paying custodial or other banking fees.\n\nExpenditures from the fund shall be made upon warrants issued by the\n\nState Treasurer against claims filed as prescribed by law with the\n\nDirector of the Office of Management and Enterprise Services for\n\napproval and payment.","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":"926b123694f336eab060419d1dd213e1b18a05561ee0efe41b5c4c68ec5f6140","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-9.11","next":"us-ok/okla.-stat.-tit.-62-62-90.1"},"notice":"GroundRules: Original legal text. Not legal advice."}