Okla. Stat. tit. 74, § 74-905
This is the official text of Okla. Stat. tit. 74, § 74-905, 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.
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Board of Trustees
Official statutory text
(1) There shall be a Board of Trustees which shall consist of
fourteen (14) members as follows and all appointees shall serve
their terms at the pleasure of the appointing authority and may be
removed or replaced without cause: a member of the Corporation
Commission or the Commission's designee selected by the Corporation
Commission, the Director of the Office of Management and Enterprise
Services or the Director's designee, the State Insurance
Commissioner or the Commissioner's designee, the Director of Human
Capital Management of the Office of Management and Enterprise
Services, a member of the Oklahoma Tax Commission selected by the
Tax Commission, the State Treasurer or the Treasurer's designee,
three members appointed by the Governor, one member appointed by the
Supreme Court, two members appointed by the Speaker of the House of
Representatives and two members appointed by the President Pro
Tempore of the State Senate. One member appointed by the Governor
shall be an active member of the System. One member appointed by
the Speaker shall be an active member of the System. One member
appointed by the President Pro Tempore shall be a retired member of
the System.
(2) The member of the Board of Trustees on July 1, 1988, who
was appointed by the Supreme Court shall complete the term of office
for which the member was appointed. The members thereafter
Oklahoma Statutes - Title 74. State Government Page 619
appointed by the Supreme Court shall serve terms of office of four
(4) years.
(3) Members of the Board of Trustees on July 1, 1988, who were
appointed by the Speaker of the House of Representatives or by the
President Pro Tempore of the Senate shall complete their term of
office for which they were appointed. The initial term of office of
members appointed thereafter shall expire on January 8, 1991. The
members thereafter appointed by the Speaker of the House of
Representatives and by the President Pro Tempore of the Senate shall
serve terms of office of four (4) years.
(4) The initial term of office of the members appointed by the
Governor shall expire on January 14, 1991. The members thereafter
appointed by the Governor shall serve a term of office of four (4)
years which is coterminous with the term of office of the office of
the appointing authority.
(5) One of the members appointed to the Board by the Speaker of
the House of Representatives and by the President Pro Tempore of the
Senate and two members appointed to the Board by the Governor shall:
(a) have demonstrated professional experience in
investment or funds management, public funds
management, public or private pension fund management
or retirement system management,
(b) have demonstrated experience in the banking profession
and have demonstrated professional experience in
investment or funds management,
(c) be licensed to practice law in this state and have
demonstrated professional experience in commercial
matters, or
n
investment or funds management, public funds
management, public or private pension fund management
or retirement system management,
(b) have demonstrated experience in the banking profession
and have demonstrated professional experience in
investment or funds management,
(c) be licensed to practice law in this state and have
demonstrated professional experience in commercial
matters, or
(d) be licensed by the Oklahoma Accountancy Board to
practice in this state as a public accountant or a
certified public accountant.
The appointing authorities, in making appointments that conform
to the requirements of this subsection, shall give due consideration
to balancing the appointments among the criteria specified in
paragraphs (a) through (d) of this subsection.
(6) No member of the Board of Trustees shall be a lobbyist
registered in this state as provided by law.
(7) Any vacancy that occurs on the Board of Trustees shall be
filled for the unexpired term in the same manner as the office was
previously filled.
(8) Notwithstanding any of the provisions of this section to
the contrary, any person serving as an appointed member of the Board
on July 1, 1988, shall be eligible for reappointment when the term
of office of the member expires.
(9) The Board shall elect one of its members as Chairman of the
Board at its annual meeting. He shall preside over meetings of the
Board and perform such other duties as may be required by the Board.
Oklahoma Statutes - Title 74. State Government Page 620
(10) The Board shall also elect another member to serve as Vice
Chairman, and the Vice Chairman shall perform duties of Chairman in
the absence of the latter or upon his inability or refusal to act.
fourteen (14) members as follows and all appointees shall serve
their terms at the pleasure of the appointing authority and may be
removed or replaced without cause: a member of the Corporation
Commission or the Commission's designee selected by the Corporation
Commission, the Director of the Office of Management and Enterprise
Services or the Director's designee, the State Insurance
Commissioner or the Commissioner's designee, the Director of Human
Capital Management of the Office of Management and Enterprise
Services, a member of the Oklahoma Tax Commission selected by the
Tax Commission, the State Treasurer or the Treasurer's designee,
three members appointed by the Governor, one member appointed by the
Supreme Court, two members appointed by the Speaker of the House of
Representatives and two members appointed by the President Pro
Tempore of the State Senate. One member appointed by the Governor
shall be an active member of the System. One member appointed by
the Speaker shall be an active member of the System. One member
appointed by the President Pro Tempore shall be a retired member of
the System.
(2) The member of the Board of Trustees on July 1, 1988, who
was appointed by the Supreme Court shall complete the term of office
for which the member was appointed. The members thereafter
Oklahoma Statutes - Title 74. State Government Page 619
appointed by the Supreme Court shall serve terms of office of four
(4) years.
(3) Members of the Board of Trustees on July 1, 1988, who were
appointed by the Speaker of the House of Representatives or by the
President Pro Tempore of the Senate shall complete their term of
office for which they were appointed. The initial term of office of
members appointed thereafter shall expire on January 8, 1991. The
members thereafter appointed by the Speaker of the House of
Representatives and by the President Pro Tempore of the Senate shall
serve terms of office of four (4) years.
(4) The initial term of office of the members appointed by the
Governor shall expire on January 14, 1991. The members thereafter
appointed by the Governor shall serve a term of office of four (4)
years which is coterminous with the term of office of the office of
the appointing authority.
(5) One of the members appointed to the Board by the Speaker of
the House of Representatives and by the President Pro Tempore of the
Senate and two members appointed to the Board by the Governor shall:
(a) have demonstrated professional experience in
investment or funds management, public funds
management, public or private pension fund management
or retirement system management,
(b) have demonstrated experience in the banking profession
and have demonstrated professional experience in
investment or funds management,
(c) be licensed to practice law in this state and have
demonstrated professional experience in commercial
matters, or
n
investment or funds management, public funds
management, public or private pension fund management
or retirement system management,
(b) have demonstrated experience in the banking profession
and have demonstrated professional experience in
investment or funds management,
(c) be licensed to practice law in this state and have
demonstrated professional experience in commercial
matters, or
(d) be licensed by the Oklahoma Accountancy Board to
practice in this state as a public accountant or a
certified public accountant.
The appointing authorities, in making appointments that conform
to the requirements of this subsection, shall give due consideration
to balancing the appointments among the criteria specified in
paragraphs (a) through (d) of this subsection.
(6) No member of the Board of Trustees shall be a lobbyist
registered in this state as provided by law.
(7) Any vacancy that occurs on the Board of Trustees shall be
filled for the unexpired term in the same manner as the office was
previously filled.
(8) Notwithstanding any of the provisions of this section to
the contrary, any person serving as an appointed member of the Board
on July 1, 1988, shall be eligible for reappointment when the term
of office of the member expires.
(9) The Board shall elect one of its members as Chairman of the
Board at its annual meeting. He shall preside over meetings of the
Board and perform such other duties as may be required by the Board.
Oklahoma Statutes - Title 74. State Government Page 620
(10) The Board shall also elect another member to serve as Vice
Chairman, and the Vice Chairman shall perform duties of Chairman in
the absence of the latter or upon his inability or refusal to act.
Status: in_force · Read it on the official government site
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