Okla. Stat. tit. 74, § 74-909
This is the official text of Okla. Stat. tit. 74, § 74-909, 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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Policies and rules for general administration
Official statutory text
(1) The Board of Trustees shall be responsible for the policies
and rules for the general administration of the system, subject to
the provisions of this act.
(2) The Board shall establish rules and regulations for the
administration of the system and for the transaction of its business
consistent with law, which rules and regulations shall be filed in
the office of the Secretary of State.
(3) The Board shall be responsible for the installation or
provision of a complete and adequate system of accounts and records.
(4) All meetings of the Board shall be open to the public. The
Board shall keep a record of its proceedings.
(5) The Board shall prescribe rules for the determination of
the value of maintenance, board, lodging, laundry, and other
allowances to employees in lieu of money and shall determine which
forms or types of compensation shall be included for retirement
purposes.
(6) The Board may adopt all necessary actuarial tables to be
used in the operation of the system as recommended by the actuary
and may compile such additional data as may be necessary for
required actuarial valuation calculations.
(7) The Board, as soon after the close of the fiscal year as
practical, shall publish for distribution among members a financial
statement showing the financial status of the system.
(8) All decisions of the Board as to questions of fact shall be
final and conclusive on all persons except for the right of review
as provided by law and except for fraud or such gross mistake of
fact as to have effect equivalent to fraud.
and rules for the general administration of the system, subject to
the provisions of this act.
(2) The Board shall establish rules and regulations for the
administration of the system and for the transaction of its business
consistent with law, which rules and regulations shall be filed in
the office of the Secretary of State.
(3) The Board shall be responsible for the installation or
provision of a complete and adequate system of accounts and records.
(4) All meetings of the Board shall be open to the public. The
Board shall keep a record of its proceedings.
(5) The Board shall prescribe rules for the determination of
the value of maintenance, board, lodging, laundry, and other
allowances to employees in lieu of money and shall determine which
forms or types of compensation shall be included for retirement
purposes.
(6) The Board may adopt all necessary actuarial tables to be
used in the operation of the system as recommended by the actuary
and may compile such additional data as may be necessary for
required actuarial valuation calculations.
(7) The Board, as soon after the close of the fiscal year as
practical, shall publish for distribution among members a financial
statement showing the financial status of the system.
(8) All decisions of the Board as to questions of fact shall be
final and conclusive on all persons except for the right of review
as provided by law and except for fraud or such gross mistake of
fact as to have effect equivalent to fraud.
Status: in_force · Read it on the official government site
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