Okla. Stat. tit. 70, § 70-695.13
This is the official text of Okla. Stat. tit. 70, § 70-695.13, part of Oklahoma’s Stat. tit. 70, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 70,." Browse the sections below, each linked to its official government source.
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Investment of monies
Official statutory text
Oklahoma Statutes - Title 70. Schools Page 1080
A. Money in the "Student Loan Sinking Fund" and money in the
Student Loan Fund in excess of the amount necessary for student
loans may be invested by the Authority in:
1. Direct obligations of or obligations whose principal and
interest are guaranteed by the United States;
2. Direct obligations of or participation certificates
guaranteed by the federal intermediate credit bank, federal land
banks, Federal National Mortgage Association, federal home loan
banks or banks for cooperatives;
3. Certificates of deposit of any bank or trust company whose
deposits are fully secured by a pledge of securities of any kind
specified in this subsection; and
4. Bonds of the state or its political subdivisions.
B. Money in the "Student Loan Sinking Fund" may be invested
only in obligations which are scheduled to mature prior to the date
the money must be available for its intended purpose.
C. All investments under this section may be sold at the
prevailing market price. Income from these investments shall be
credited to the "Student Loan Sinking Fund."
A. Money in the "Student Loan Sinking Fund" and money in the
Student Loan Fund in excess of the amount necessary for student
loans may be invested by the Authority in:
1. Direct obligations of or obligations whose principal and
interest are guaranteed by the United States;
2. Direct obligations of or participation certificates
guaranteed by the federal intermediate credit bank, federal land
banks, Federal National Mortgage Association, federal home loan
banks or banks for cooperatives;
3. Certificates of deposit of any bank or trust company whose
deposits are fully secured by a pledge of securities of any kind
specified in this subsection; and
4. Bonds of the state or its political subdivisions.
B. Money in the "Student Loan Sinking Fund" may be invested
only in obligations which are scheduled to mature prior to the date
the money must be available for its intended purpose.
C. All investments under this section may be sold at the
prevailing market price. Income from these investments shall be
credited to the "Student Loan Sinking Fund."
Status: in_force · Read it on the official government site
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