reglab/housing_qa huggingface dataset:
70 OK Stat § 70-3955 (2021)
2021 Oklahoma Statutes|Title 70. Schools|§70-3955. Fiduciary duties - Conflict of interest.

|A. A fiduciary with respect to the Oklahoma State Regents' Endowment Trust Fund, the Oklahoma State Regents' Academic Scholars Trust Fund, the Oklahoma Higher Learning Access Trust Fund, the Oklahoma GEAR UP Scholarship Trust Fund, or the Oklahoma Tuition Equalization Grant Trust Fund, hereafter the "Trust Fund," shall not cause the Trust Fund to engage in a transaction if the fiduciary knows or should know that such transaction constitutes a direct or indirect: |1. Sale or exchange, or leasing of any property from the Trust Fund to a party in interest;2. Lending of money or other extension of credit from the Trust Fund to a party in interest;3. Furnishing of goods, services, or facilities from the Trust Fund to a party in interest; or4. Transfer to, or use by or for the benefit of, a party in interest of any assets of the Trust Fund.B. A fiduciary with respect to the Trust Fund shall not:1. Deal with the assets of the Trust Fund in the fiduciary's own interest or for the fiduciary's own account;2. In the fiduciary's individual or any other capacity act in any transaction involving the Trust Fund on behalf of a party whose interests are adverse to the interests of the Trust Fund; or3. Receive any consideration for the fiduciary's own personal account from any party dealing with the Trust Fund in connection with a transaction involving the assets of the Trust Fund.C. A fiduciary with respect to the Trust Fund may:1. Invest all or part of the assets of the Trust Fund in deposits which bear the highest interest rate available for funds with the necessary degree of availability in a bank or similar financial institution supervised by the United States or a state, if such bank or other institution is a fiduciary of such plan; or2. Provide any ancillary service by a bank or similar financial institution supervised by the United States or a state, if such bank or other institution is a fiduciary of such plan.D. A person or a financial institution is a fiduciary with respect to the Trust Fund to the extent that the person or the financial institution:1. Exercises any discretionary authority or discretionary control respecting management of the Trust Fund or exercises any authority or control respecting management or disposition of the assets of the Trust Fund;2. Renders investment advice for a fee or other compensation, direct or indirect, with respect to any monies or other property of the Trust Fund, or has any authority or responsibility to do so; or3. Has any discretionary authority or discretionary responsibility in the administration of the Trust Fund.Added by Laws 1989, c. 375, § 12, emerg. eff. June 6, 1989. Amended by Laws 1992, c. 353, § 8, eff. July 1, 1992; Laws 1999, c. 320, § 43, eff. July 1, 1999; Laws 2000, c. 309, § 2, eff. Sept. 1, 2000; Laws 2002, c. 99, § 3, eff. July 1, 2002; Laws 2003, c. 207, § 6, eff. July 1, 2003.
70 OK Stat § 70-3970.1 (2021)
2021 Oklahoma Statutes|Title 70. Schools|§70-3970.1. Short title.

|This act shall be known and may be cited as the "Oklahoma College Savings Plan Act". |Added by Laws 1998, c. 366, § 1, eff. July 1, 1998.
70 OK Stat § 70-3970.2 (2021)
2021 Oklahoma Statutes|Title 70. Schools|§70-3970.2. Purpose.

|It is the purpose of this act, given the cost of higher education, the importance of encouraging savings for tuition, and the correlation of economic growth and education, to permit Oklahomans to benefit from tax benefits for qualified college savings programs allowed by federal law. |Added by Laws 1998, c. 366, § 2, eff. July 1, 1998.
70 OK Stat § 70-3970.4 (2021)
2021 Oklahoma Statutes|Title 70. Schools|§70-3970.4. Board of Trustees.

|A. There is hereby created the Board of Trustees of the Oklahoma College Savings Plan program composed of seven (7) members as follows: |1. The State Treasurer;2. The State Auditor and Inspector;3. The State Superintendent of Public Instruction;4. The Chancellor of the Oklahoma State Regents for Higher Education; and5. Three members, from the general public, each of whom possesses knowledge, skill and experience in accounting, risk management, investments, financial management, or actuarial science, one of whom is appointed by the Governor, one by the Speaker of the House of Representatives, and one by the President Pro Tempore of the Senate. The initial appointee of the Governor shall serve a term of two (2) years. The initial appointee of the President Pro Tempore of the Senate shall serve a term of three (3) years. The initial appointee of the Speaker of the House of Representatives shall serve a term of four (4) years. Upon expiration of the initial terms, subsequent terms shall be for four (4) years.B. The State Treasurer shall serve as chair of the Board. The Board shall select a vice-chair.C. Members of the Board may designate members of their respective staffs to attend meetings of the Board and to vote in their absence. Such designations shall be in writing to the chair of the Board and filed with the Secretary of State.D. Members of the Board shall serve without compensation but shall receive reasonable reimbursement from their respective office or agency or in the case of appointed members from the appointing authority for actual and necessary travel expenses in accordance with the State Travel Reimbursement Act.E. A majority of the members of the Board serving shall constitute a quorum for the transaction of business at a meeting of the Board. Voting upon action to be taken by the Board shall be conducted by a majority vote of the members present at the meeting of the Board.F. The business of the Board shall be conducted at meetings of the Board held in compliance with the Oklahoma Open Meeting Act. The Board shall make available to the public records as required by the Oklahoma Open Records Act.G. The Board may delegate to the Oklahoma State Regents for Higher Education some or all of the duties to carry out the day-to-day operations and responsibilities of the program. The State Regents shall provide staff for the Board. In exercising such delegation, the State Regents shall be authorized to exercise such powers as are vested in the Board which are necessary to fulfill the delegated duties and responsibilities, and may assign any such duties and responsibilities to the staff as the State Regents deem necessary and proper.H. The members of the Board are immune from personal liability with respect to all actions that are taken in good faith and within the scope of the Board's authority.Added by Laws 1998, c. 366, § 4, eff. July 1, 1998. Amended by Laws 1999, c. 142, § 1, emerg. eff. May 3, 1999.
70 OK Stat § 70-3970.5 (2021)
2021 Oklahoma Statutes|Title 70. Schools|§70-3970.5. Board duties.

|The Board of Trustees of the Oklahoma College Savings Plan shall: |1. Develop and implement the program in a manner consistent with this act through the adoption of guidelines and procedures;2. Retain professional services, if necessary, including accountants, auditors, consultants and other experts;3. Seek rulings and other guidance, if necessary, from the United States Department of the Treasury, the Internal Revenue Service, and the Oklahoma Attorney General relating to the program;4. Make changes to the program required for the participants in the program to obtain the federal income tax benefits or treatment provided by Section 529 of the Internal Revenue Code;5. Interpret, in policies, guidelines and procedures, the provisions of the Oklahoma College Savings Plan Act broadly in light of its purpose and objectives;6. Develop a schedule of application fees and other necessary fees and charges in connection with any agreement, contract or transaction relating to the program that are sufficient to offset the administrative and staffing costs associated with the implementation and administration of this program;7. Select the financial institution or institutions to act as the depositories and managers of the program accounts in accordance with this act. For purposes of selecting such institutions and managers, the Board shall be exempt from the Oklahoma Central Purchasing Act. The Board shall develop a competitive process by which the institutions and managers will be selected;8. Develop procedures to assist in the administration and implementation of this act. Any guidelines or procedures affecting existing or potential participants in the Oklahoma College Savings Plan may only be implemented after reasonable notice to the public and a public hearing in a manner similar to requirements of the Administrative Procedures Act; and9. Have the authority to implement affinity programs for plan participants.Added by Laws 1998, c. 366, § 5, eff. July 1, 1998. Amended by Laws 1999, c. 142, § 2, emerg. eff. May 3, 1999; Laws 2006, c. 178, § 3, eff. Nov. 1, 2006.
70 OK Stat § 70-3970.9 (2021)
2021 Oklahoma Statutes|Title 70. Schools|§70-3970.9. Balance to be treated as asset of parent - Exceptions.

|A. Any student loan program, student grant program, or other financial assistance program established or administered by this state shall treat the balance in an account of which the student is a designated beneficiary as if it were an asset of the parent of the designated beneficiary and not as a scholarship or grant or as an asset of the student for determining a student's or parent's income, assets or financial need. |B. Subsection A of this section applies to any financial assistance program administered by a state-supported college or university.C. Subsections A and B of this section shall not apply if any of the following conditions exist:1. Federal law requires all or a portion of the amount in an account to be considered in a different manner;2. Federal benefits could be lost if all or a portion of the amount in an account is not considered in a different manner; or3. A specific grant establishing a financial assistance program requires that all or a portion of the amount in an account be considered as an asset of the student.Added by Laws 1998, c. 366, § 9, eff. July 1, 1998.
70 OK Stat § 70-3970.10 (2021)
2021 Oklahoma Statutes|Title 70. Schools|§70-3970.10. Limitations.

|A. Nothing in this act shall be construed to: |1. Give a designated beneficiary any rights or legal interest with respect to an account unless the designated beneficiary is the account owner;2. Guarantee that a designated beneficiary will be admitted to a higher education institution or be allowed to continue enrollment at or graduate from a higher education institution located in this state after admission;3. Establish state residency for a person merely because the person is a designated beneficiary; or4. Guarantee that amounts saved pursuant to the program will be sufficient to cover the qualified higher education expenses of a designated beneficiary.B. Nothing in this act establishes any obligation of this state or any agency or instrumentality of this state to guarantee for the benefit of any account owner, contributor to an account or designated beneficiary any of the following:1. The return of any amounts contributed to an account;2. The rate of interest or other return on any account;3. The payment of interest or other return on any account; or4. Tuition rates or the cost of related higher education expenditures.C. Under rules adopted by the Board, every contract, application, deposit slip or other similar document that may be used in connection with a contribution to an account shall clearly indicate that the account is not insured by this state and neither the principal deposited nor the investment return is guaranteed by this state.Added by Laws 1998, c. 366, § 10, eff. July 1, 1998.
70 OK Stat § 70-3970.11 (2021)
2021 Oklahoma Statutes|Title 70. Schools|§70-3970.11. Reports.

|The Board of Trustees of the Oklahoma College Savings Plan shall submit a report summarizing any findings and recommendations concerning the program to the Speaker of the House of Representatives, the President Pro Tempore of the Senate, and the Governor by February 1 of each year. |Added by Laws 1998, c. 366, § 11, eff. July 1, 1998.
70 OK Stat § 70-3970.12 (2021)
2021 Oklahoma Statutes|Title 70. Schools|§70-3970.12. Effective date for opening of accounts.

|No account under the Oklahoma College Savings Program shall be opened prior to January 1, 1999, and until the Board of Trustees of the Oklahoma College Savings Plan determines it is appropriate. |Added by Laws 1998, c. 366, § 12, eff. July 1, 1998.
70 OK Stat § 70-3980.1 (2021)
2021 Oklahoma Statutes|Title 70. Schools|§70-3980.1. Short title.

|This act shall be known and may be cited as the “Oklahoma Higher Education Promise of Excellence Act of 2005”. |Added by Laws 2005, c. 2, § 1, emerg. eff. March 31, 2005.
70 OK Stat § 70-3980.2 (2021)
2021 Oklahoma Statutes|Title 70. Schools|§70-3980.2. Power to issue obligations for capital improvements.

|A. It is the intent of the Legislature to authorize the Board of Regents of the University of Oklahoma, acting for the benefit of the University of Oklahoma, the Board of Regents for the Oklahoma Agricultural and Mechanical Colleges, acting for the benefit of Oklahoma State University, the Oklahoma State Regents for Higher Education, acting for the benefit of other institutions within The Oklahoma State System of Higher Education, and the Oklahoma Capitol Improvement Authority to become issuers of obligations according to the provisions and for the purposes authorized by this act. |B. Obligations issued by any of the authorized issuers pursuant to this act supported by appropriation of revenues from the Oklahoma Education Lottery Trust Fund pursuant to Section 41 of Article X of the Oklahoma Constitution shall be considered and deemed to have been authorized for the purposes of construction or acquisition of educational facilities or equipment owned by or under the control of the Oklahoma State Regents for Higher Education within the meaning of paragraph 4 of subsection B of Section 41 of Article X of the Oklahoma Constitution and/or capital outlay projects within the meaning of paragraph 5 of subsection B of Section 41 of Article X of the Oklahoma Constitution.C. Obligations issued pursuant to the authority of this act shall not be deemed or considered to be general obligations of the State of Oklahoma, but shall be limited and special obligations of the authorized issuer for the benefit of the applicable institutions within The Oklahoma State System of Higher Education under their respective auspices and control.D. Neither the appropriations powers of the Legislature pursuant to Article V of the Oklahoma Constitution nor the powers described by Section 3 of Article XIII-A of the Oklahoma Constitution with respect to monies lawfully appropriated to the Oklahoma State Regents for Higher Education nor the power of the Legislature to impose taxes, generally, shall be pledged to the repayment of any obligations issued pursuant to the provisions of this act and any obligation issued by any authorized issuer hereunder shall affirmatively state this restriction.E. It is the intent of the Legislature to improve the ability of the Oklahoma State Regents for Higher Education and the other specifically designated Boards of Regents within The Oklahoma State System of Higher Education to finance capital improvements and to provide a method by which the total revenues available to each respective authorized issuer of obligations, or revenues available within The Oklahoma State System of Higher Education as prescribed by this act, may be pledged to the repayment of the obligations, resulting in a higher credit rating and an interest cost savings to The Oklahoma State System of Higher Education.Added by Laws 2005, c. 2, § 2, emerg. eff. March 31, 2005. Amended by Laws 2005, c. 218, § 1, emerg. eff. May 24, 2005.
70 OK Stat § 70-3980.3 (2021)
2021 Oklahoma Statutes|Title 70. Schools|§70-3980.3. Definitions.

|As used in this act, and unless the context clearly requires otherwise: |1. “Authorized issuer” means:a.the Oklahoma State Regents for Higher Education acting for the benefit of any institution within The Oklahoma State System of Higher Education other than the University of Oklahoma or Oklahoma State University,b.the Board of Regents of the University of Oklahoma acting for the benefit of the University of Oklahoma,c.the Board of Regents for the Oklahoma Agricultural and Mechanical Colleges, acting for the benefit of Oklahoma State University, andd.the Oklahoma Capitol Improvement Authority;2. "Bonds" means any bonds, notes, obligations, debentures, interim certificates, grant and revenue anticipation notes, interest in a lease, lease certificates of participation, lease purchase agreements, commercial paper, variable interest rate obligations of any kind, or other evidences of indebtedness, whether or not the interest on which is includable in the gross income of the recipients thereof for federal income tax purposes, issued by an authorized issuer pursuant to this act;3. “Regents” means either the Oklahoma State Regents for Higher Education, the Board of Regents of the University of Oklahoma or the Board of Regents for the Oklahoma Agricultural and Mechanical Colleges; and4. “State Regents” means the Oklahoma State Regents for Higher Education.Added by Laws 2005, c. 2, § 3, emerg. eff. March 31, 2005. Amended by Laws 2005, c. 218, § 2, emerg. eff. May 24, 2005.
70 OK Stat § 70-3980.8 (2021)
2021 Oklahoma Statutes|Title 70. Schools|§70-3980.8. Transfer and interest exempt from taxation.

|The obligations issued pursuant to this act by an authorized issuer, the transfer thereof and the interest earned on such obligations, including any profit derived from the sale thereof, shall not be subject to taxation of any kind by the State of Oklahoma, or by any county, municipality or political subdivision therein. |Added by Laws 2005, c. 2, § 8, emerg. eff. March 31, 2005. Amended by Laws 2005, c. 218, § 9, emerg. eff. May 24, 2005.
70 OK Stat § 70-3980.9 (2021)
2021 Oklahoma Statutes|Title 70. Schools|§70-3980.9. Application for credit rating.

|The Oklahoma State Regents for Higher Education, the Board of Regents of the University of Oklahoma and the Board of Regents for the Oklahoma Agricultural and Mechanical Colleges shall make application for a credit rating from a nationally recognized rating agency with expertise in the evaluation of obligations issued by governmental entities as determined necessary and prudent by the State Bond Advisor. |Added by Laws 2005, c. 2, § 9, emerg. eff. March 31, 2005. Amended by Laws 2005, c. 218, § 10, emerg. eff. May 24, 2005.
70 OK Stat § 70-3980.10 (2021)
2021 Oklahoma Statutes|Title 70. Schools|§70-3980.10. Audited financial statements.

|A. Each authorized issuer and each institution within The Oklahoma State System of Higher Education that receives proceeds from the sale of any obligations issued pursuant to the Oklahoma Higher Education Promise of Excellence Act of 2005 shall issue financial statements audited by an independent certified public accountant within one hundred twenty (120) days after the close of the fiscal year. |B. Within thirty (30) days after completion of the audited financial statements pursuant to subsection A of this section, each institution shall cause the audited financial statement or a summary thereof to be made available to the general public on its web page.Added by Laws 2005, c. 2, § 10, emerg. eff. March 31, 2005. Amended by Laws 2005, c. 218, § 11, emerg. eff. May 24, 2005; Laws 2008, c. 79, § 1.
70 OK Stat § 70-4002.1 (2021)
2021 Oklahoma Statutes|Title 70. Schools|§70-4002.1. Legislative approval of bond issue.

|Legislative approval expressed by concurrent resolution, except as provided by Section 121, Chapter 189, O.S.L. 1993, shall be required prior to commencing any action in anticipation of issuance by a Board of Regents of revenue bonds authorized by Section 4002 of Title 70 of the Oklahoma Statutes or any other bonds authorized by law to be issued by such Boards. The provisions of this section shall not apply to revenue bonds issued for the purpose of refundings or defeasance of existing revenue bonds. |Added by Laws 1982, c. 374, § 40, emerg. eff. July 20, 1982. Amended by Laws 1993, c. 189, § 122, emerg. eff. May 20, 1993; Laws 1999, c. 345, § 19, eff. July 1, 1999.
70 OK Stat § 70-4002.2 (2021)
2021 Oklahoma Statutes|Title 70. Schools|§70-4002.2. Construction of communications and telecommunications network - Revenue bonds.

|The Oklahoma State Regents for Higher Education are hereby authorized to issue revenue bonds in the sum not to exceed Two Million Dollars ($2,000,000.00) for the purpose of planning and constructing a communications and telecommunications network and the purchase of necessary equipment for the use of The State System of Higher Education and state government generally. |Added by Laws 1986, c. 246, § 15, operative July 1, 1986. der
70 OK Stat § 70-4003 (2021)
2021 Oklahoma Statutes|Title 70. Schools|§70-4003. Limitation on pledging or use of revenue - Bonds not obligations of State.

|No provision of this article shall be construed to authorize the pledging or use of revenue of existing buildings and facilities other than auxiliary enterprises and other self-liquidating buildings and facilities, nor shall any provisions of this article be construed to authorize the pledging or use of any revolving funds. No bonds issued under the authorization of this article shall ever become an obligation or debt of the State of Oklahoma. |Laws 1965, c. 396, § 1003.
70 OK Stat § 70-4005 (2021)
2021 Oklahoma Statutes|Title 70. Schools|§70-4005. Federal grant of funds.

|The board may enter into any agreement or contracts with the United States of America or any agency or instrumentality thereof which it may consider advisable or necessary in order to obtain a grant of funds or other aid to be used in connection with the proceeds of the bonds in paying the cost of the construction, furnishing and equipment of the building. |Added by Laws 1965, c. 396, § 1005, eff. July 1, 1965.
70 OK Stat § 70-4006 (2021)
2021 Oklahoma Statutes|Title 70. Schools|§70-4006. Disposition of proceeds of bonds - Contracts - Warrants.

|The proceeds derived from the sale of the bonds herein authorized shall be deposited in the State Treasury to the credit of the board and kept in a separate fund and used solely for the purpose for which the bonds are authorized. The board is authorized to make all contracts and execute all instruments which in its discretion may be deemed necessary or advisable to provide for the construction, furnishing, and equipment of the building, and the State Treasurer is hereby directed and authorized to issue warrants against such funds for such amounts as he may from time to time find to be due upon audited itemized estimates and claims which bear the approval of the officials designated by the board for such purpose. |Laws 1965, c. 396, § 1006; Laws 1979, c. 47, § 86, emerg. eff. April 9, 1979.
70 OK Stat § 70-4007 (2021)
2021 Oklahoma Statutes|Title 70. Schools|§70-4007. Disposition of proceeds of operation of buildings.

|Except as to revenues paid directly to a trustee under the provisions of Section 1004(a) (5) hereof, all income and revenues derived from the operation of the building shall be deposited as collected in a fund in the State Treasury to be applied solely to the payment of the principal of and interest on the bonds and, to the extent so provided in the resolution authorizing the bonds, to the payment of the cost of maintaining and operating the building and the establishment of reserves for such purpose. As principal and interest becomes due from time to time the State Treasurer shall, not less than fifteen (15) days prior to the payment date, transmit to the paying agent for the bonds, money from said fund in an amount sufficient to pay the principal or interest so falling due. Said fund and the money therein is hereby irrevocably pledged to such purposes. |Laws 1965, c. 396, § 1007.