{"data":{"id":"us-ok/okla.-stat.-tit.-70-70-3970.4","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 70, § 70-3970.4","heading":"Board of Trustees","body":"A. There is hereby created the Board of Trustees of the\n\nOklahoma College Savings Plan program composed of seven (7) members\n\nas follows:\n\n1. The State Treasurer;\n\n2. The State Auditor and Inspector;\n\n3. The State Superintendent of Public Instruction;\n\n4. The Chancellor of the Oklahoma State Regents for Higher\n\nEducation; and\n\n5. Three members, from the general public, each of whom\n\npossesses knowledge, skill and experience in accounting, risk\n\nmanagement, investments, financial management, or actuarial science,\n\none of whom is appointed by the Governor, one by the Speaker of the\n\nHouse of Representatives, and one by the President Pro Tempore of\n\nthe Senate. The initial appointee of the Governor shall serve a\n\nterm of two (2) years. The initial appointee of the President Pro\n\nTempore of the Senate shall serve a term of three (3) years. The\n\ninitial appointee of the Speaker of the House of Representatives\n\nshall serve a term of four (4) years. Upon expiration of the\n\ninitial terms, subsequent terms shall be for four (4) years.\n\nB. The State Treasurer shall serve as chair of the Board. The\n\nBoard shall select a vice-chair.\n\nC. Members of the Board may designate members of their\n\nrespective staffs to attend meetings of the Board and to vote in\n\ntheir absence. Such designations shall be in writing to the chair\n\nof the Board and filed with the Secretary of State.\n\nD. Members of the Board shall serve without compensation but\n\nshall receive reasonable reimbursement from their respective office\n\nor agency or in the case of appointed members from the appointing\n\nauthority for actual and necessary travel expenses in accordance\n\nwith the State Travel Reimbursement Act.\n\nE. A majority of the members of the Board serving shall\n\nconstitute a quorum for the transaction of business at a meeting of\n\nthe Board. Voting upon action to be taken by the Board shall be\n\nconducted by a majority vote of the members present at the meeting\n\nof the Board.\n\nF. The business of the Board shall be conducted at meetings of\n\nthe Board held in compliance with the Oklahoma Open Meeting Act.\n\nThe Board shall make available to the public records as required by\n\nthe Oklahoma Open Records Act.\n\nG. The Board may delegate to the Oklahoma State Regents for\n\nHigher Education some or all of the duties to carry out the day-to-\n\nday operations and responsibilities of the program. The State\n\nRegents shall provide staff for the Board. In exercising such\n\ndelegation, the State Regents shall be authorized to exercise such\n\npowers as are vested in the Board which are necessary to fulfill the\n\ndelegated duties and responsibilities, and may assign any such\n\nduties and responsibilities to the staff as the State Regents deem\n\nnecessary and proper.\n\nH. The members of the Board are immune from personal liability\n\nwith respect to all actions that are taken in good faith and within\n\nthe scope of the Board's authority.","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":"c4a81e05ff144b70af27a46b6739bdb7ee1f2e60a722591a619c02897496f92a","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-70-70-3970.3","next":"us-ok/okla.-stat.-tit.-70-70-3970.5"},"notice":"GroundRules: Original legal text. Not legal advice."}