{"data":{"id":"us-ok/okla.-stat.-tit.-70-70-3953.3","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 70, § 70-3953.3","heading":"Trust fund - Scholarships","body":"A. There is hereby created a trust fund to be known as the\n\n\"Oklahoma GEAR UP Scholarship Trust Fund\". The Oklahoma State\n\nRegents for Higher Education shall be the trustees of said Trust\n\nFund.\n\nB. The State Regents shall utilize said Trust Fund to fund\n\nscholarships in accordance with the federal Gaining Early Awareness\n\nand Readiness for Undergraduate Program (GEAR UP) grant.\n\nC. The Trust Fund principal shall consist of monies received\n\nfrom the GEAR UP grant for scholarship purposes, any monies the\n\nLegislature appropriates or transfers to the Oklahoma State Regents\n\nfor Higher Education for the Trust Fund, and any monies or assets\n\ncontributed to the Trust Fund from any other source, public or\n\nprivate.\n\nD. Notwithstanding other provisions of law, income and\n\ninvestment return on Trust Fund principal shall accrue to the Trust\n\nFund for use as provided by authorization of the trustees for the\n\npurposes provided in subsection B of this section. The State\n\nRegents may also utilize the Trust Fund principal for the purpose\n\nprovided in subsection B of this section. Except as otherwise\n\nprovided by law, no such income or investment return or principal\n\nshall be used for administrative expenses.\n\nE. The State Regents shall adopt rules for accomplishing\n\ntransfer of funds from the Oklahoma GEAR UP Scholarship Trust Fund\n\nto the appropriate institutional Educational and General Operations\n\nRevolving Funds, as provided in Section 3901 of Title 70 of the\n\nOklahoma Statutes, to private institutions, and to the appropriate\n\nvocational-technical area school district to cover scholarships for\n\neligible students pursuant to the GEAR UP grant. Allocations from\n\nthe Trust Fund may be made only for the purpose of covering the\n\nscholarship costs. No portion of the Trust Fund may be used or\n\nallocated for administrative or operating expenses of any higher\n\neducation or vocational-technical institution.","path":["OK Code","Title 70"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os70.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"db1c02f36712ef4c66e0a891a46921d3b1b5dd57c73f5e19016f517bec8c73d5","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-70-70-3953.1","next":"us-ok/okla.-stat.-tit.-70-70-3953.4"},"notice":"GroundRules: Original legal text. Not legal advice."}