Okla. Stat. tit. 60, § 60-177.5
This is the official text of Okla. Stat. tit. 60, § 60-177.5, part of Oklahoma’s Stat. tit. 60, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 60,." Browse the sections below, each linked to its official government source.
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Rebate of reserve funds resulting from any advance
Official statutory text
funding or cash management program.
All reserve funds currently or hereafter held by any public
trust or entity, which funds result from any advance funding or cash
management program, must be rebated, with all accrued interest
thereon, on a pro rata basis of actual participation to the program
participants of the advance funding or cash management program from
which the reserve was created unless, within three (3) years of the
date of the reserve fund's initial creation, such reserve funds are
used by the public trust or entity to fund a similar advance funding
or cash management program.
All reserve funds currently or hereafter held by any public
trust or entity, which funds result from any advance funding or cash
management program, must be rebated, with all accrued interest
thereon, on a pro rata basis of actual participation to the program
participants of the advance funding or cash management program from
which the reserve was created unless, within three (3) years of the
date of the reserve fund's initial creation, such reserve funds are
used by the public trust or entity to fund a similar advance funding
or cash management program.
Status: in_force · Read it on the official government site
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