Okla. Stat. tit. 3, § 3-516
This is the official text of Okla. Stat. tit. 3, § 3-516, part of Oklahoma’s Stat. tit. 3, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 3,." Browse the sections below, each linked to its official government source.
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Transfer of Commission members to Board of Directors —
Official statutory text
Qualifications and terms — Transfer of personnel to Department.
A. On and after the effective date of this act, the Oklahoma
Aerospace and Aeronautics Commission of the Oklahoma Department of
Aerospace and Aeronautics shall become the Board of Directors of the
Oklahoma Space Industry Development Authority. The qualifications
and terms of office of the Board members shall be identical to the
Oklahoma Statutes - Title 3. Aircraft and Airports Page 131
qualifications and terms of office of the Commission members. On
and after the effective date of this act, persons currently
appointed to the Commission shall also become members of the Board.
The funds of the Department and the Authority shall not be
commingled and shall be separately accounted for, and they shall be
considered and treated as separate legal entities.
B. Each member shall be reimbursed for expenses incurred in the
performance of duties on behalf of the Authority as provided for in
the State Travel Reimbursement Act.
C. Before the issuance of any revenue bonds under the
provisions of the Oklahoma Space Industry Development Act, each
member of the Board shall execute a surety bond in the penal sum of
Twenty-five Thousand Dollars ($25,000.00). Each such surety bond
shall be conditioned upon the faithful performance of the duties of
the member’s office, shall be executed by a surety company
authorized to transact business in this state as surety, and shall
be filed in the Office of the Secretary of State.
D. All personnel of the Authority are hereby transferred to the
Department and shall become employees of the Department. In order
to carry out the mission of the Authority, the Board shall enter
into an agreement with the Oklahoma Department of Aerospace and
Aeronautics to provide the Authority’s administrative and staff
services. The Board may elect to replace or merge any existing
contract for services that the Authority has with an existing
contract that the Oklahoma Department of Aerospace and Aeronautics
has to provide administrative efficiency; provided, that such
contract is for the same or similar service and the funds expended
by each entity can be accounted for.
E. The Director of the Oklahoma Department of Aerospace and
Aeronautics shall serve as the chief executive officer of the
Oklahoma Space Industry Development Authority.
A. On and after the effective date of this act, the Oklahoma
Aerospace and Aeronautics Commission of the Oklahoma Department of
Aerospace and Aeronautics shall become the Board of Directors of the
Oklahoma Space Industry Development Authority. The qualifications
and terms of office of the Board members shall be identical to the
Oklahoma Statutes - Title 3. Aircraft and Airports Page 131
qualifications and terms of office of the Commission members. On
and after the effective date of this act, persons currently
appointed to the Commission shall also become members of the Board.
The funds of the Department and the Authority shall not be
commingled and shall be separately accounted for, and they shall be
considered and treated as separate legal entities.
B. Each member shall be reimbursed for expenses incurred in the
performance of duties on behalf of the Authority as provided for in
the State Travel Reimbursement Act.
C. Before the issuance of any revenue bonds under the
provisions of the Oklahoma Space Industry Development Act, each
member of the Board shall execute a surety bond in the penal sum of
Twenty-five Thousand Dollars ($25,000.00). Each such surety bond
shall be conditioned upon the faithful performance of the duties of
the member’s office, shall be executed by a surety company
authorized to transact business in this state as surety, and shall
be filed in the Office of the Secretary of State.
D. All personnel of the Authority are hereby transferred to the
Department and shall become employees of the Department. In order
to carry out the mission of the Authority, the Board shall enter
into an agreement with the Oklahoma Department of Aerospace and
Aeronautics to provide the Authority’s administrative and staff
services. The Board may elect to replace or merge any existing
contract for services that the Authority has with an existing
contract that the Oklahoma Department of Aerospace and Aeronautics
has to provide administrative efficiency; provided, that such
contract is for the same or similar service and the funds expended
by each entity can be accounted for.
E. The Director of the Oklahoma Department of Aerospace and
Aeronautics shall serve as the chief executive officer of the
Oklahoma Space Industry Development Authority.
Status: in_force · Read it on the official government site
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