{"data":{"id":"us-ok/okla.-stat.-tit.-74-74-5060.7","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 74, § 74-5060.7","heading":"Executive director and other officers - Meetings -","body":"Conflicts of interest - Liability.\n\nA. The position of president of the Oklahoma Center for the\n\nAdvancement of Science and Technology is hereby reconstituted as the\n\nexecutive director for the Oklahoma Science and Technology Research\n\nand Development Board. The president of the Center upon the\n\neffective date of this act shall serve as the executive director for\n\nthe Board at the pleasure of the Board. Subsequent executive\n\ndirectors shall be selected by the Board and shall serve at the\n\npleasure of the Board. The executive director shall serve as the\n\nchief executive officer of the Center and the Institute, and shall\n\ndirect and supervise the administrative affairs and the general\n\nmanagement of the Center and the Institute. The Board shall\n\nestablish criteria for selecting the executive director taking into\n\nconsideration national standards. The search for the executive\n\ndirector shall be conducted pursuant to the criteria so established.\n\nB. The executive director:\n\n1. May employ and terminate such other officers and employees\n\nas designated by the Board including, if necessary, legal counsel to\n\nbe chosen through a request for proposal process;\n\n2. Shall attend board meetings;\n\n3. Shall appoint a secretary of the Board to keep a record of\n\nall proceedings and maintain and be custodian of all financial and\n\noperational records, documents and papers filed with the Center and\n\nthe Institute and of the minute book of the Center and the\n\nInstitute; and\n\n4. Before accepting any applications as provided for under this\n\nact, shall prepare a business plan which shall include the analysis\n\nof funding levels of programs in other states that are shown in the\n\nreport required in subsection B of Section 5060.22 of this title,\n\nand the threshold funding levels specified in subsection C of\n\nSection 5060.22 of this title.\n\nC. The meetings of the Board shall be subject to the Open\n\nMeeting Act and the Open Records Act. Any information submitted to\n\nor compiled by the Center or the Institute with respect to the\n\nmarketing plans, financial statements, trade secrets, research\n\nconcepts, methods or products, or any other proprietary information\n\nof persons, firms, associations, partnerships, agencies,\n\ncorporations, institutions of higher education, nonprofit research\n\ninstitutions or other entities shall be confidential, except to the\n\nextent that the person or entity which provided such information or\n\nwhich is the subject of such information consents to disclosure.\n\nExecutive sessions may be held to discuss such materials if deemed\n\nnecessary by the Board.\n\nD. If a member of the Board, officer, agent or employee of the\n\nCenter or the Institute has any direct or any indirect interest in\n\nany approval, contract or agreement upon which the member, officer,\n\nagent or employee may be called upon to act or vote, the board\n\nmember, officer, agent or employee shall disclose the same to the\n\nsecretary of the Board prior to the taking of final action by the\n\nBoard concerning such contract or agreement and shall so disclose\n\nthe nature and extent of such interest and the acquisition thereof,\n\nwhich disclosure shall be publicly acknowledged by the Board and\n\nentered upon the minutes of the Board. A Board member, officer,\n\nagent or employee who holds such an interest shall refrain from any\n\nfurther official involvement in regard to such contract or\n\nagreement, from voting on any matter pertaining to such contract or\n\nagreement, and from communicating with other board members,\n\nofficers, agents or employees concerning said contract or agreement.\n\nEmployees of the Center, including employees assigned to the\n\nInstitute, shall be subject to the provisions of the Ethics\n\nCommission rules. Notwithstanding any other provision of law, any\n\ncontract or agreement entered into in conformity with this\nto such contract or\n\nagreement, and from communicating with other board members,\n\nofficers, agents or employees concerning said contract or agreement.\n\nEmployees of the Center, including employees assigned to the\n\nInstitute, shall be subject to the provisions of the Ethics\n\nCommission rules. Notwithstanding any other provision of law, any\n\ncontract or agreement entered into in conformity with this\n\nsubsection shall not be void or invalid by reason of the interest\n\ndescribed in this subsection, nor shall any person so disclosing the\n\ninterest and refraining from further official involvement as\n\nprovided for in this subsection be guilty of an offense, be removed\n\nfrom office, or be subject to any other penalty on account of such\n\ninterest. Provided, any approval, contract or agreement made in\n\nviolation of this section shall give rise to no action against the\n\nBoard, the Center or the Institute.\n\nIndirect interest shall include pecuniary or competitive\n\nadvantage which exists or could foreseeably accrue as a result of\n\nthe act or forbearance of the Board, Center or Institute.\n\nE. No director or any person acting on behalf of the Board,\n\nCenter or Institute executing any contracts, commitments, or\n\nagreements issued pursuant to this act shall be personally liable\n\nupon such contracts, commitments, or agreements or be subject to any\n\npersonal liability or accountability by reason thereof. No director\n\nor any person acting on behalf of the Board, Center or Institute\n\nshall be personally liable for damage or injury resulting from the\n\nperformance of duties hereunder.","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":"dc8c3f2af1d93ed356e14c977bdd6218e5f75475abbfccbb29dcab11a04ecae8","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-74-74-5060.6","next":"us-ok/okla.-stat.-tit.-74-74-5060.8"},"notice":"GroundRules: Original legal text. Not legal advice."}