{"data":{"id":"us-ok/okla.-stat.-tit.-70-70-695.3","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 70, § 70-695.3","heading":"Oklahoma Student Loan Authority - Bonds - Legal","body":"investments - Tax exemption.\n\nThe Governor is hereby authorized to accept beneficial interest\n\non behalf of the State of Oklahoma in an express trust which shall\n\nbe an agency of the state for the specific object and purpose of\n\nproviding student loan funds pursuant to requirements of any\n\nappropriate federal agency to qualified persons as provided herein.\n\nSaid state trust shall be entitled the Oklahoma Student Loan\n\nAuthority. The Authority shall be created in accordance with the\n\nprovisions of Section 176 et seq. of Title 60 of the Oklahoma\n\nStatutes. It shall issue bonds or other obligations from time to\n\ntime for and on behalf of the State of Oklahoma as such funds are\n\nneeded to underwrite loans to qualified persons at participating\n\ninstitutions as provided herein. Bonds issued by the Authority, or\n\ninterest thereon, shall be paid through funds received by the\n\nAuthority as provided in Section 695.7 of this title.\n\nAll bonds issued under the Oklahoma Student Loan Act are legal\n\nand authorized investments for banks, savings banks, trust\n\ncompanies, savings and loan associations, insurance companies,\n\ncredit unions, fiduciaries, trustees and guardians, and for the\n\nState of Oklahoma and any of its political subdivisions,\n\ndepartments, institutions and agencies. When accompanied by all\n\nunmatured coupons appurtenant thereto, the bonds are sufficient\n\nsecurity for all deposits of state funds and of all funds of any\n\nboard in control at the par value of the bond. The bonds and the\n\nincome therefrom are free from taxation within this state.","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":"7171a7237fe72887857c666e288667bec0b818c16e6ac4412e7f29bffadd2644","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-70-70-695.21","next":"us-ok/okla.-stat.-tit.-70-70-695.4"},"notice":"GroundRules: Original legal text. Not legal advice."}