Okla. Stat. tit. 62, § 62-120.4
This is the official text of Okla. Stat. tit. 62, § 62-120.4, part of Oklahoma’s Stat. tit. 62, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 62,." Browse the sections below, each linked to its official government source.
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Property accounts
Official statutory text
The property accounts set up, maintained and kept as provided by
law, for tangible property and equipment, other than expendable
supplies, shall be maintained on cost basis, representative of
capital values of invested state monies, and never charged with
appreciation nor credited with depreciation; but on sale or exchange
and reacquisition of properties of comparable function as
hereinbefore provided, the capital account thereof shall be credited
with the first or capital cost of the item disposed of and charged
with the gross cost of the substitute item acquired; unless and
until the Legislature shall require that the depleted or depreciated
value shall be charged to expense.
law, for tangible property and equipment, other than expendable
supplies, shall be maintained on cost basis, representative of
capital values of invested state monies, and never charged with
appreciation nor credited with depreciation; but on sale or exchange
and reacquisition of properties of comparable function as
hereinbefore provided, the capital account thereof shall be credited
with the first or capital cost of the item disposed of and charged
with the gross cost of the substitute item acquired; unless and
until the Legislature shall require that the depleted or depreciated
value shall be charged to expense.
Status: in_force · Read it on the official government site
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