Okla. Stat. tit. 74, § 74-906

(1) The Board shall hold regular meetings in Oklahoma City at

least once each quarter, the dates, time, and place thereof to be

fixed by the Board. The Board shall hold a regular meeting in July

of each year which meeting shall be the annual meeting and at which

meeting it shall elect its chair. Special meetings may be called

upon written call of the chair or by agreement of any eight members

of the Board. Notice of a special meeting shall be delivered to all

trustees in person, by registered or certified United States mail,

or by electronic mail not less than seven (7) days prior to the date

fixed for the meeting; provided, however, that notice of such

meeting may be waived by any member either before or after such

meeting and attendance at such meeting shall constitute a waiver of

notice of such meeting, unless a member participates therein solely

to object to the transaction of any business because the meeting has

not been legally called or convened.

(2) Eight (8) trustees shall constitute a quorum for the

transaction of business, but any official action of the Board shall

be based upon a favorable vote by at least eight (8) trustees at a

regular or special meeting of the Board.

(3) The trustees shall serve the System without compensation

but shall receive their actual and necessary expenses, subject to

statutory limitations applying to other state employees, as are

incurred in the performance of their duties, which shall be paid as

an operating expense from the appropriate operating fund of the

System.