{"data":{"id":"us-ok/okla.-stat.-tit.-74-74-5085.6","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 74, § 74-5085.6","heading":"Oklahoma Capital Investment Board—Dissolution —","body":"Transfer to Oklahoma Center for the Advancement of Science and\n\nTechnology.\n\nA. Until the effective date of this act, the Oklahoma Capital\n\nInvestment Board shall consist of five (5) Directors who shall be\n\nappointed by the Governor with the advice and consent of the Senate.\n\nDirectors shall be selected based upon outstanding knowledge and\n\nleadership and shall possess experience in the management of\n\ninvestments similar in nature and in value to those of the Board.\n\nDirectors shall serve for a term of office of five (5) years.\n\nProvided, the initial Board of Directors of the Oklahoma Capital\n\nInvestment Board shall consist of the trustees of the trust\n\ncertified as the Oklahoma Capital Investment Board pursuant to the\n\nprovisions of Section 5085.2 of this title and the Directors of the\n\nOklahoma Capital Investment Board. Positions on the Board of\n\nDirectors held by trustees of such trust shall not be filled as the\n\nterms of office for the trustees expire. Positions on the Board of\n\nDirectors held by Directors of the Oklahoma Capital Investment Board\n\nshall be filled by the Governor with the advice and consent of the\n\nSenate as the terms of office for the Directors expire and in a\n\nmanner to allow one member to rotate off of the Board each year.\n\nB. Annually, the Directors shall select a chair to preside at\n\ntheir meetings. The Directors shall have the authority to manage\n\nthe Oklahoma Capital Investment Board in accordance with the\n\nrequirements of the Oklahoma Capital Formation Act and its trust\n\nindenture.\n\nC. The meetings of the Directors shall be subject to the\n\nOklahoma Open Meeting Act, Section 301 et seq. of Title 25 of the\n\nOklahoma Statutes, and the Oklahoma Open Records Act, Section 24A.1\n\net seq. of Title 51 of the Oklahoma Statutes. Any information\n\nsubmitted to or compiled by the Oklahoma Capital Investment Board\n\nwith respect to the marketing plans, financial statements, trade\n\nsecrets, research concepts, methods or products, or any other\n\nproprietary information of persons, firms, associations,\n\npartnerships, agencies, corporations, or other entities shall be\n\nconfidential, except to the extent that the person or entity that\n\nprovided such information or that is the subject of such information\n\nconsents to disclosure. Executive sessions may be held to discuss\n\nsuch materials if deemed necessary by the Directors.\n\nD. A conflict of interest shall be deemed to exist in any\n\ncontractual relationship in which a Director of the Board, officer,\n\nagent, or employee or any for-profit firm or corporation in which\n\nsuch Director, officer, agent, or employee or any member of his or\n\nher immediate family is an officer, partner, or principal\n\nstockholder, shall directly or indirectly buy or sell goods or\n\nservices to, or otherwise contract with the Board. Upon a showing\n\nthereof, such Director, officer, agent, or employee shall be subject\n\nto removal and such contract shall be deemed unenforceable as\n\nagainst the Board unless the records of the Board shall reflect that\n\nsuch Director, officer, agent, or employee fully and publicly\n\ndisclosed all such interest or interests, and unless such\n\ncontractual relationship shall have been secured by competitive\n\nbidding following a public invitation to bid. If a Director,\n\nofficer, agent, or employee holds such an interest, he or she shall\n\nrefrain from any further official involvement in regard to such\n\ncontract or agreement, from voting on any matter pertaining to such\n\ncontract or agreement, and from communicating with other Board\n\nmembers, officers, agents, or employees concerning the contract or\n\nagreement.\n\nE. Bonds issued by the Oklahoma Capital Investment Board shall\n\nbe subject to oversight pursuant to the Oklahoma Bond Oversight and\n\nReform Act, Section 695.1 et seq. of Title 62 of the Oklahoma\n\nStatutes.\n\nF. Upon the effective date of this act, the Oklahoma Capital\nagreement, and from communicating with other Board\n\nmembers, officers, agents, or employees concerning the contract or\n\nagreement.\n\nE. Bonds issued by the Oklahoma Capital Investment Board shall\n\nbe subject to oversight pursuant to the Oklahoma Bond Oversight and\n\nReform Act, Section 695.1 et seq. of Title 62 of the Oklahoma\n\nStatutes.\n\nF. Upon the effective date of this act, the Oklahoma Capital\n\nInvestment Board shall be dissolved. Any contracts or agreements\n\nexecuted by the Board or by any subsidiary or affiliate of the Board\n\nand any investment of funds required by the provisions of a contract\n\nexecuted by the Board or by any subsidiary or affiliate of the Board\n\nshall be transferred to and managed by the Oklahoma Center for the\n\nAdvancement of Science and Technology.","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":"9ba8a6cf10be0ecdf3b856d034a9cb2e1bc12d66a22ff6ee6faf53e81d2a2972","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-74-74-5085.5","next":"us-ok/okla.-stat.-tit.-74-74-5085.7"},"notice":"GroundRules: Original legal text. Not legal advice."}