{"data":{"id":"us-ok/okla.-stat.-tit.-74-74-5013.2","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 74, § 74-5013.2","heading":"Expenditures from Minority Business Development Program","body":"Fund - Contracts.\n\nA. The Oklahoma Department of Commerce shall expend so much as\n\nappropriated to the Minority Business Development Program Fund as\n\nmay be necessary to accomplish contractual responsibilities for job\n\ncreation and enhancement and business creation and expansion of\n\nOklahoma minority-owned businesses. The Department may contract\n\nwith organizations which support minority businesses for these\n\npurposes only after:\n\n1. An applicant organization has submitted an approved business\n\nplan;\n\n2. An applicant organization has demonstrated through education\n\nand experience capabilities of offering management tools and\n\ntechnical assistance to minority-owned businesses;\n\n3. An applicant organization has demonstrated that it can\n\nprovide financial capacity and responsibility to manage a program to\n\naid minority-owned businesses in the manner set out herein;\n\n4. A panel of peer reviewers has received applications and\n\nrecommended such applications for contracting;\n\n5. The Department has given due consideration to those\n\napplicants that demonstrate an ability to attract matching funding\n\nfrom other governmental or private or charitable organizations;\n\n6. The Department has given due consideration to those\n\napplicants that demonstrate an ability to aid minority-owned\n\nbusinesses located in communities with a population of less than ten\n\nthousand (10,000); and\n\n7. The Department has developed, adopted and published\n\nadditional criteria, upon receipt of advice and comment from\n\nqualified peer reviewers.\n\nB. Any contract entered into pursuant to this section shall\n\nrequire quarterly reports of activities and expenditures upon forms\n\nprescribed by the Department. Said quarterly reports shall be\n\nreviewed by Oklahoma Futures. The Department or Oklahoma Futures\n\nmay disallow expenditures and withhold funds accordingly, if reports\n\nreflect failure to comply with approved applications. All\n\ncontractors shall submit annual audits as required by the Department\n\nof Commerce which may be paid from allocated, appropriated funds.\n\nThe Department may utilize an amount not to exceed twenty percent\n\n(20%) of appropriated funds for administration of the minority-owned\n\nbusiness program.\n\nC. Contracts entered into by the Oklahoma Department of\n\nCommerce for the purpose of implementing the Minority Business\n\nDevelopment Program shall be exempt from the requirements of the\n\nOklahoma Central Purchasing Act.","path":["OK Code","Title 74"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os74.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"beeedc7cc285a891b69ddc28b32247f05d4b334af794b519fdbdf17f7ea802ce","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-74-74-5013.1","next":"us-ok/okla.-stat.-tit.-74-74-5013.3"},"notice":"GroundRules: Original legal text. Not legal advice."}