Okla. Stat. tit. 63, § 63-3224

A. The State of Oklahoma expressly approves the creation of a

public trust to be denominated the "University Hospitals Trust", of

which the State of Oklahoma shall be the beneficiary, provided such

approval shall be contingent upon the following conditions being

satisfied:

1. Finalizing of the Declaration of Trust;

2. Adoption of the Declaration of Trust by an official action

of the trustees of the Trust;

3. Submission of the Trust for acceptance of the beneficial

interest and approval as required by Section 177 of Title 60 of the

Oklahoma Statutes; and

4. The approved Declaration of Trust shall:

a. clearly state that the principal purpose of the

University Hospitals Trust is to effectuate the

purposes of the University Hospitals Authority as

established in the University Hospitals Authority Act,

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b. except as otherwise provided by law, provide that the

fee simple title to real property held by the

University Hospitals Authority shall not be

transferred, conveyed, or assigned to the University

Hospitals Trust without the express consent of the

Legislature as the governing entity of the beneficiary

pursuant to Section 176 of Title 60 of the Oklahoma

Statutes,

c. provide that any indebtedness incurred by the

University Hospitals Trust or the trustees of the

Trust shall not be secured with or create a lien upon

real property to which title is held by the University

Hospitals Authority and shall not involve the bonding

capacity of the University Hospitals Authority,

d. provide that the trust estate of the University

Hospitals Trust shall not include fee simple title to

real property owned by the University Hospitals

Authority,

e. clearly state that the creation of the University

Hospitals Trust shall not in any way reduce, limit or

interfere with the power granted to the University

Hospitals Authority in the University Hospitals

Authority Act,

f. provide that any lease or contractual agreement

involving use of the real property to which title is

held by the University Hospitals Authority and any

improvements thereto shall contain a provision and

covenants requiring the proper maintenance and upkeep

of the real property and improvements,

g. provide that the trustees of the University Hospitals

Trust shall be the acting members of the University

Hospitals Authority as provided in the University

Hospitals Authority Act, and

h. provide that the trustees of the University Hospitals

Trust shall have the duty to submit an annual report

to the Governor, the President Pro Tempore of the

Senate and the Speaker of the House of

Representatives. The report shall be submitted by

January 1 of each year and shall include an account of

all operations, actions of the Trust, account of all

revenue received and disbursed by the Trust for the

previous fiscal year. The report shall also provide a

complete accounting of how the Trust meets its primary

function of effectuating the purposes of the

University Hospitals Authority, as established in the

University Hospitals Authority Act.

Oklahoma Statutes - Title 63. Public Health and Safety Page 1533

B. The University Hospitals Trust shall require any agreements

which it enters into with any entity pursuant to Section 3226 of

this title for the operations of facilities leased by the University

Hospitals Authority to the Trust to include, but not be limited to:

1. The inclusion of four of the five members of the Trust as

four of the five members representing the State of Oklahoma as state

appointees to the governing committee created pursuant to a proposed

agreement;

2. Binding arbitration shall not be involved in such agreements

for resolving issues under consideration by the governing committee;

and

3. Major decisions shall be resolved by the governing

committee, and approval of any major decision by the governing
he five members representing the State of Oklahoma as state

appointees to the governing committee created pursuant to a proposed

agreement;

2. Binding arbitration shall not be involved in such agreements

for resolving issues under consideration by the governing committee;

and

3. Major decisions shall be resolved by the governing

committee, and approval of any major decision by the governing

committee must include the approval of a majority of the state

appointees and the approval of a majority of the members of the

private entity appointees to the governing committee. Major

decisions shall include:

a. approval of the annual operating and capital budgets,

b. sale or disposition of assets that individually have a

fair market value over Two Hundred Fifty Thousand

Dollars ($250,000.00),

c. the termination or transfer or material addition or

material diminution of medical services at the

Oklahoma Medical Center related to and part of a

teaching program of the University of Oklahoma Health

Sciences Center, and

d. other major decisions as may be agreed upon by the

Trust and the private entity.

C. To the extent it is determined by legislative enactment that

the Trust has expended funds in contravention of its mission as set

forth in this section, the Trust shall remit, upon thirty (30) days'

written notice from the University Hospitals Authority, such sum or

sums to the University Hospitals Authority.

D. In the event the Trust enters into a joint venture or

acquires an interest in a not-for-profit entity to effectuate the

administration of the mission of the Trust, that entity shall not be

subject to the Oklahoma Open Meeting Act and the Oklahoma Open

Records Act. Any information submitted to or compiled by the Trust

with respect to marketing plans, financial statements, trade

secrets, research concepts, methods or products or any other

proprietary information submitted to or compiled by the Trust,

persons, firms, associations, partnerships, agencies, corporations,

institutions of higher education, nonprofit research institutions or

other entities shall be confidential, except to the extent that the

person or entity which provided such information or which is the

subject of such information consents to disclosure. Executive

sessions may be held to discuss such materials if deemed necessary

Oklahoma Statutes - Title 63. Public Health and Safety Page 1534

by the Trust. The provisions of this subsection shall not apply to

budgetary information related to appropriations or the

appropriations process.

E. In addition to the powers and exemptions granted to state

beneficiary public trusts organized under Section 176 et seq. of

Title 60 of the Oklahoma Statutes, the Trust shall possess all the

statutory powers and exemptions provided to the University Hospitals

Authority.

F. The Trust shall have the authority or may contract with a

joint operator or with a foundation supporting the programs of

Oklahoma Children's Hospital to sell naming rights to property owned

or leased by the Trust, provided proceeds from the sale of naming

rights are used to effectuate the purposes of the University

Hospitals Authority as established in the University Hospitals

Authority Act and are specifically approved by the Trust, which

shall have absolute discretion in granting or denying naming rights.

Naming rights shall not include any interest in the property by the

purchaser other than the naming rights.