{"data":{"id":"us-ok/okla.-stat.-tit.-63-63-3224","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 63, § 63-3224","heading":"University Hospitals Trust","body":"A. The State of Oklahoma expressly approves the creation of a\n\npublic trust to be denominated the \"University Hospitals Trust\", of\n\nwhich the State of Oklahoma shall be the beneficiary, provided such\n\napproval shall be contingent upon the following conditions being\n\nsatisfied:\n\n1. Finalizing of the Declaration of Trust;\n\n2. Adoption of the Declaration of Trust by an official action\n\nof the trustees of the Trust;\n\n3. Submission of the Trust for acceptance of the beneficial\n\ninterest and approval as required by Section 177 of Title 60 of the\n\nOklahoma Statutes; and\n\n4. The approved Declaration of Trust shall:\n\na. clearly state that the principal purpose of the\n\nUniversity Hospitals Trust is to effectuate the\n\npurposes of the University Hospitals Authority as\n\nestablished in the University Hospitals Authority Act,\n\nb. except as otherwise provided by law, provide that the\n\nfee simple title to real property held by the\n\nUniversity Hospitals Authority shall not be\n\ntransferred, conveyed, or assigned to the University\n\nHospitals Trust without the express consent of the\n\nLegislature as the governing entity of the beneficiary\n\npursuant to Section 176 of Title 60 of the Oklahoma\n\nStatutes,\n\nc. provide that any indebtedness incurred by the\n\nUniversity Hospitals Trust or the trustees of the\n\nTrust shall not be secured with or create a lien upon\n\nreal property to which title is held by the University\n\nHospitals Authority and shall not involve the bonding\n\ncapacity of the University Hospitals Authority,\n\nd. provide that the trust estate of the University\n\nHospitals Trust shall not include fee simple title to\n\nreal property owned by the University Hospitals\n\nAuthority,\n\ne. clearly state that the creation of the University\n\nHospitals Trust shall not in any way reduce, limit or\n\ninterfere with the power granted to the University\n\nHospitals Authority in the University Hospitals\n\nAuthority Act,\n\nf. provide that any lease or contractual agreement\n\ninvolving use of the real property to which title is\n\nheld by the University Hospitals Authority and any\n\nimprovements thereto shall contain a provision and\n\ncovenants requiring the proper maintenance and upkeep\n\nof the real property and improvements,\n\ng. provide that the trustees of the University Hospitals\n\nTrust shall be the acting members of the University\n\nHospitals Authority as provided in the University\n\nHospitals Authority Act, and\n\nh. provide that the trustees of the University Hospitals\n\nTrust shall have the duty to submit an annual report\n\nto the Governor, the President Pro Tempore of the\n\nSenate and the Speaker of the House of\n\nRepresentatives. The report shall be submitted by\n\nJanuary 1 of each year and shall include an account of\n\nall operations, actions of the Trust, account of all\n\nrevenue received and disbursed by the Trust for the\n\nprevious fiscal year. The report shall also provide a\n\ncomplete accounting of how the Trust meets its primary\n\nfunction of effectuating the purposes of the\n\nUniversity Hospitals Authority, as established in the\n\nUniversity Hospitals Authority Act.\n\nB. The University Hospitals Trust shall require any agreements\n\nwhich it enters into with any entity pursuant to Section 3226 of\n\nthis title for the operations of facilities leased by the University\n\nHospitals Authority to the Trust to include, but not be limited to:\n\n1. The inclusion of four of the five members of the Trust as\n\nfour of the five members representing the State of Oklahoma as state\n\nappointees to the governing committee created pursuant to a proposed\n\nagreement;\n\n2. Binding arbitration shall not be involved in such agreements\n\nfor resolving issues under consideration by the governing committee;\n\nand\n\n3. Major decisions shall be resolved by the governing\n\ncommittee, and approval of any major decision by the governing\nhe five members representing the State of Oklahoma as state\n\nappointees to the governing committee created pursuant to a proposed\n\nagreement;\n\n2. Binding arbitration shall not be involved in such agreements\n\nfor resolving issues under consideration by the governing committee;\n\nand\n\n3. Major decisions shall be resolved by the governing\n\ncommittee, and approval of any major decision by the governing\n\ncommittee must include the approval of a majority of the state\n\nappointees and the approval of a majority of the members of the\n\nprivate entity appointees to the governing committee. Major\n\ndecisions shall include:\n\na. approval of the annual operating and capital budgets,\n\nb. sale or disposition of assets that individually have a\n\nfair market value over Two Hundred Fifty Thousand\n\nDollars ($250,000.00),\n\nc. the termination or transfer or material addition or\n\nmaterial diminution of medical services at the\n\nOklahoma Medical Center related to and part of a\n\nteaching program of the University of Oklahoma Health\n\nSciences Center, and\n\nd. other major decisions as may be agreed upon by the\n\nTrust and the private entity.\n\nC. To the extent it is determined by legislative enactment that\n\nthe Trust has expended funds in contravention of its mission as set\n\nforth in this section, the Trust shall remit, upon thirty (30) days'\n\nwritten notice from the University Hospitals Authority, such sum or\n\nsums to the University Hospitals Authority.\n\nD. In the event the Trust enters into a joint venture or\n\nacquires an interest in a not-for-profit entity to effectuate the\n\nadministration of the mission of the Trust, that entity shall not be\n\nsubject to the Oklahoma Open Meeting Act and the Oklahoma Open\n\nRecords Act. Any information submitted to or compiled by the Trust\n\nwith respect to marketing plans, financial statements, trade\n\nsecrets, research concepts, methods or products or any other\n\nproprietary information submitted to or compiled by the Trust,\n\npersons, firms, associations, partnerships, agencies, corporations,\n\ninstitutions of higher education, nonprofit research institutions or\n\nother entities shall be confidential, except to the extent that the\n\nperson or entity which provided such information or which is the\n\nsubject of such information consents to disclosure. Executive\n\nsessions may be held to discuss such materials if deemed necessary\n\nby the Trust. The provisions of this subsection shall not apply to\n\nbudgetary information related to appropriations or the\n\nappropriations process.\n\nE. In addition to the powers and exemptions granted to state\n\nbeneficiary public trusts organized under Section 176 et seq. of\n\nTitle 60 of the Oklahoma Statutes, the Trust shall possess all the\n\nstatutory powers and exemptions provided to the University Hospitals\n\nAuthority.\n\nF. The Trust shall have the authority or may contract with a\n\njoint operator or with a foundation supporting the programs of\n\nOklahoma Children's Hospital to sell naming rights to property owned\n\nor leased by the Trust, provided proceeds from the sale of naming\n\nrights are used to effectuate the purposes of the University\n\nHospitals Authority as established in the University Hospitals\n\nAuthority Act and are specifically approved by the Trust, which\n\nshall have absolute discretion in granting or denying naming rights.\n\nNaming rights shall not include any interest in the property by the\n\npurchaser other than the naming rights.","path":["OK Code","Title 63"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os63.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"e98d83ee752f4c5db07795616cffb636b4d67816f125f0a48979cd0f3725d842","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-63-63-3222","next":"us-ok/okla.-stat.-tit.-63-63-3225"},"notice":"GroundRules: Original legal text. Not legal advice."}