Okla. Stat. tit. 11, § 11-50-113

All the funds in the System shall be used only for the following

purposes:

1. For investments as authorized by law;

2. For the payment of allowances to injured and disabled

members of any participating municipality;

3. For the payment of pensions for long service to retired

members of any participating municipality;

4. For the payment of a pension to any beneficiary of any

member eligible for a pension;

5. For the payment of any professional services deemed

necessary by the State Board;

6. For the payment of warrant deductions upon proper

authorization given by the member to the Board from which the member

or beneficiary is currently receiving retirement benefits for any

Oklahoma Statutes - Title 11. Cities and Towns Page 642

insurance premium due an insurance organization for life, accident,

and health insurance.

The System has no responsibility for the marketing, enrolling or

administration of the products for which warrant deductions are

authorized under this paragraph.

Approval of a warrant deduction for any insurance organization,

line of coverage or policy shall not be construed as an assumption

of liability, for the terms of the policy or the performance of the

insurance organization by the Oklahoma Police Pension and Retirement

System;

7. For the payment of membership dues in a statewide

association limited to Oklahoma Police Pension and Retirement System

members with a minimum membership of one thousand dues-paying

members upon proper authorization given by the member; and

8. Any other purposes authorized by law.

Such payments in any event shall not exceed the limits provided in

this article.