Okla. Stat. tit. 74, § 74-85.58K
This is the official text of Okla. Stat. tit. 74, § 74-85.58K, part of Oklahoma’s Stat. tit. 74, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 74,." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Risk Management Revolving Fund
Official statutory text
A. There is hereby created in the State Treasury a revolving
fund for the Office of Management and Enterprise Services, to be
designated the “Risk Management Revolving Fund”. The fund shall be
a continuing fund, not subject to fiscal year limitations, and shall
consist of any monies transferred thereto by act of the Legislature
and any monies which may be deposited thereto by the Office of
Management and Enterprise Services as provided for by law. The
money in the fund shall be invested by the Risk Management
Administrator, as hired or contracted pursuant to Section 85.58A of
this title, in the manner specified for making investments in
Section 1305.1 of this title. Investment income of the fund shall
be added to the fund.
B. Within the Risk Management Revolving Fund, there is hereby
created the Property and Casualty Account, the Motor Vehicle
Liability Account and the General Tort Liability Account. The
Director of the Office of Management and Enterprise Services is
authorized to establish such additional accounts within the Risk
Management Revolving Fund deemed necessary. The monies in each
account shall be maintained actuarially separate to ensure that
premiums or fees paid for specific insurance coverage are adequate
to pay the expenses and claims for that coverage.
C. All monies accruing to the credit of said fund are hereby
appropriated and may be budgeted and expended by the Office of
Management and Enterprise Services for the purposes of the
Comprehensive Professional Risk Management Program provided for in
Oklahoma Statutes - Title 74. State Government Page 222
Section 85.58A of this title, including but not limited to the
salaries and administrative expenses of the Risk Management
Administrator and support staff and expenses the Department incurs
to support program operations. Expenditures from said fund shall be
made upon warrants issued by the State Treasurer against claims
filed as prescribed by law with the Director of the Office of
Management and Enterprise Services for approval and payment.
fund for the Office of Management and Enterprise Services, to be
designated the “Risk Management Revolving Fund”. The fund shall be
a continuing fund, not subject to fiscal year limitations, and shall
consist of any monies transferred thereto by act of the Legislature
and any monies which may be deposited thereto by the Office of
Management and Enterprise Services as provided for by law. The
money in the fund shall be invested by the Risk Management
Administrator, as hired or contracted pursuant to Section 85.58A of
this title, in the manner specified for making investments in
Section 1305.1 of this title. Investment income of the fund shall
be added to the fund.
B. Within the Risk Management Revolving Fund, there is hereby
created the Property and Casualty Account, the Motor Vehicle
Liability Account and the General Tort Liability Account. The
Director of the Office of Management and Enterprise Services is
authorized to establish such additional accounts within the Risk
Management Revolving Fund deemed necessary. The monies in each
account shall be maintained actuarially separate to ensure that
premiums or fees paid for specific insurance coverage are adequate
to pay the expenses and claims for that coverage.
C. All monies accruing to the credit of said fund are hereby
appropriated and may be budgeted and expended by the Office of
Management and Enterprise Services for the purposes of the
Comprehensive Professional Risk Management Program provided for in
Oklahoma Statutes - Title 74. State Government Page 222
Section 85.58A of this title, including but not limited to the
salaries and administrative expenses of the Risk Management
Administrator and support staff and expenses the Department incurs
to support program operations. Expenditures from said fund shall be
made upon warrants issued by the State Treasurer against claims
filed as prescribed by law with the Director of the Office of
Management and Enterprise Services for approval and payment.
Status: in_force · Read it on the official government site
Need a lawyer in Oklahoma?
Find a Oklahoma lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.