{"data":{"id":"us-ok/okla.-stat.-tit.-72-72-441","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 72, § 72-441","heading":"State of Oklahoma Veterans Foundation – Authorization -","body":"Purpose.\n\nA. There is hereby authorized the establishment by the Oklahoma\n\nVeterans Commission of a private, not-for-profit, charitable\n\norganization to be known as the “State of Oklahoma Veterans\n\nFoundation”. The Foundation shall be for the purpose of soliciting,\n\naccepting, receiving, holding, investing, managing, utilizing, and\n\nexpending contributions of money, real or personal property, and\n\nservices, for use in support of the activities, services,\n\nfacilities, properties, and programs of the Commission and the\n\nOklahoma Department of Veterans Affairs, as they support veterans\n\nwho are residents of this state. Such contributions shall be\n\nsupplementary to any state funding received by the Department and\n\nshall provide a means to further assist the needs of the veteran\n\ncommunity in this state.\n\nB. The Foundation created pursuant to this act shall not be a\n\npublic body and may receive contributions from any public or private\n\nsource to carry out the purposes of this act including, but not\n\nlimited to, gifts or grants from private individuals, companies,\n\nfoundations, corporations, and others in the private and public\n\nsectors.\n\nC. Upon incorporation, the Foundation shall operate exclusively\n\nfor charitable and educational purposes and shall secure tax-exempt\n\nstatus under the appropriate provision of Sections 501(c) and 509(a)\n\nof the Internal Revenue Code of 1986, as amended, 26 U.S.C.,\n\nSections 501(c) and 509(a).\n\nD. The Department shall be authorized to create the board of\n\nthe Foundation. The commissioners of the Oklahoma Veterans\n\nCommission shall determine the initial members of the Foundation and\n\nelect the board of directors of the Foundation. No employee of the\n\nDepartment shall be a voting member of the board of directors of the\n\nFoundation. Any voting member of the board of directors of the\n\nFoundation who may have a financial interest in an action under\n\nconsideration by the Foundation shall abstain from voting on any\n\nsuch matter.\n\nE. No administrator of the Department shall provide any\n\npreferential consideration to a potential resident of a State\n\nVeterans Home in the application or admission process due to any\n\nprior or pledged contribution to the Foundation.\n\nF. The Foundation shall make all of its financial records and\n\ndocuments including work papers, except for the names of donors and\n\nother privileged or confidential materials, available to auditors\n\nwho are performing audits of the Department.","path":["OK Code","Title 72"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os72.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"f24f5779ab8cae91ac7a4e57d7e1fbd2a06a5a54b365da3a9b6786c7ce15536f","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-72-72-440","next":"us-ok/okla.-stat.-tit.-72-72-450"},"notice":"GroundRules: Original legal text. Not legal advice."}