reglab/housing_qa huggingface dataset:
74 OK Stat § 74-872 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-872. Agency not holding title to real estate comprising industrial development project - Loans.

|In those instances where in an industrial development agency not holding title to real estate comprising the industrial development project, but desiring the Oklahoma Industrial Finance Authority to participate in the financing of such project, joins a responsible industrial buyer in making application for a loan from said Authority for such purpose, the said industrial development agency itself contributing funds to the financing of such project, whether secured or not, the said Oklahoma Industrial Finance Authority is hereby authorized and empowered, subject to all other provisions of Sections 851 through 868 of this title, and in supplementation thereof, to participate in the financing of such industrial development project not to exceed sixty-six and two-thirds percent (66 2/3%) of the cost thereof, taking as security for its loan a first mortgage lien on such approved industrial development project or thirty-three and one-third percent (33 1/3%) of the cost thereof, taking as security a second mortgage lien on such approved industrial development project; provided, however, that in such case the mortgage lien securing funds loaned by the local industrial development agency shall be inferior to the lien of said Authority, and provided, further, that the local industrial development agency shall be jointly and severally liable upon the note or notes given the said Authority as one of the principal makers thereof. |Amended by Laws 1987, c. 9, § 7, emerg. eff. March 31, 1987.
74 OK Stat § 74-873 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-873. Power of Authority to purchase notes and mortgages.

|The Oklahoma Industrial Finance Authority is hereby further authorized and empowered, if in its discretion the public purposes of the aforesaid constitutional and statutory provisions would thereby be subserved, to purchase with recourse from an approved industrial development agency, a promissory note or notes, and mortgage or participations therein upon an industrial development project securing said note or notes previously taken by said industrial development agency from a responsible buyer of such industrial development project, provided that the Oklahoma Industrial Finance Authority shall first have investigated and found that: (1) The note and mortgage or participations therein so purchased or offered for purchase shall constitute either a first or second mortgage lien upon the property, (2) That the amount thereof does not exceed sixty-six and two-thirds percent (66 2/3%) of the cost of such industrial development project where the note or mortgage constitutes a first mortgage lien on the property, or thirty-three and one-third percent (33 1/3%) of the cost of such industrial development project where the note or mortgage constitutes a second mortgage lien on the property, and (3) That the industrial development agency assigning said note and mortgage will use the proceeds thereof in the furtherance of other industrial development projects. |Amended by Laws 1987, c. 9, § 8, emerg. eff. March 31, 1987.
74 OK Stat § 74-874 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-874. Loans deemed to have been made to local industrial development agency applying - Liberal construction.

|When the financing of an industrial development project is accomplished with the participation and assistance of the Oklahoma Industrial Finance Authority in the manner set forth in Sections 872 and 873 of this title, all such loans shall be deemed and construed to have been made to the local industrial development agency applying therefor, and within the purview of the said Section 33A, Article X of the Oklahoma Constitution, and Sections 851 et seq. of Title 74 of the Oklahoma Statutes; and the provisions of this act, and of actions taken hereunder, shall be liberally construed to effect the purpose and object hereof. |Amended by Laws 1988, c. 88, § 8, emerg. eff. March 30, 1988.
74 OK Stat § 74-875 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-875. Public trusts qualified to borrow money from Authority.

|Public trusts created under the laws of the State of Oklahoma for the purpose of financing industrial development projects involving and specifically limited to new manufacturing or industrial plant facilities, the relocation, refinancing or expansion of existing manufacturing or industrial plant facilities shall be qualified to borrow money from The Oklahoma Industrial Finance Authority as an "Industrial Development Agency" within the meaning of Article X, Section 33A of the Oklahoma State Constitution and of 74 O.S. 1981, Section 853(d), and said Oklahoma Industrial Finance Authority is authorized to accept applications for loans and consider the merits thereof on the same basis as applications of any other industrial development agency, subject to all other provisions of law governing the making of such loans. |Amended by Laws 1988, c. 88, § 9, emerg. eff. March 30, 1988.
74 OK Stat § 74-876 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-876. Issuance and sale of additional state industrial finance bonds.

|Pursuant to the provisions of Section 33A, Article X of the Oklahoma Constitution, empowering the Oklahoma Legislature to take such action, the Oklahoma Industrial Finance Authority is hereby authorized and empowered to issue and sell state industrial finance bonds backed by the full faith and credit of the State of Oklahoma, at such times and in such amounts as it may deem best, not to exceed an aggregate amount of Ninety Million Dollars ($90,000,000.00) outstanding at any one time. The additional bonds authorized pursuant to State Question 600 shall only be sold as needed in increments not to exceed Ten Million Dollars ($10,000,000.00). |Amended by Laws 1987, c. 9, § 9, emerg. eff. March 31, 1987.
74 OK Stat § 74-878 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-878. Maximizing amount of capital available for industrial financing.

|That in those instances in which the amount of capital available for industrial financing in the State of Oklahoma tends to be reduced by reason of reduction in the volume of tax-exempt industrial bonds issued or issuable by cities or counties in Oklahoma, or by reason of federal statutes or United States Treasury Department rulings limiting or adversely affecting this method of financing said industrial projects in this state, the Oklahoma Industrial Finance Authority is hereby authorized, within its sole discretion, to accept applications and make loans to industrial development agencies, as the same are defined by law. As security therefor the Authority shall take a mortgage upon the industrial facility from such industrial development agency holding legal title to the same, and shall take a promissory note or notes for the amount of such loan from an approved industrial tenant. The above financing arrangement shall be in addition to all other loan procedures heretofore authorized by law governing the lending operations of the Oklahoma Industrial Finance Authority, it being the intent and purpose of the Legislature to maximize the amount of loan capital available from all sources for industrial development purposes in Oklahoma. |Laws 1969, p. 625, S.J.R. No. 25, § 1, emerg. eff. April 30, 1969.
74 OK Stat § 74-901 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-901. Purpose – Establishment as qualified governmental retirement plan under federal law.

|A. The purpose of this act is to provide an orderly means whereby employees of the participating employers who qualify by reason of age, or condition, and service, as herein set forth, may be transferred to inactive service without prejudice and without inflicting undue hardship upon the employees transferred, and to enable such employees to accumulate deferred income reserves for themselves and their dependents to provide for old age, death, and inactive service, and for the purpose of effecting economy and efficiency in the administration of governmental affairs. |B. The System is established as a qualified governmental retirement plan under Sections 401(a) and 414(d) of the federal Internal Revenue Code. The Board shall administer the System in order to comply with the applicable provisions of the federal Internal Revenue Code.Added by Laws 1963, c. 50, § 1, emerg. eff. May 6, 1963. Amended by Laws 1999, c. 257, § 29, eff. July 1, 1999.
74 OK Stat § 74-903 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-903. System created - Body corporate - Powers.

|There is hereby created the Oklahoma Public Employees Retirement System which shall be a body corporate and an instrumentality of the State of Oklahoma. The system shall be vested with the powers and duties specified in this act and such other powers as may be necessary to enable it, its officers, employees, and agents to carry out fully and effectively the purposes and intent of this act. |Laws 1963, c. 50, § 3, emerg. eff. May 6, 1963.
74 OK Stat § 74-904 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-904. Suits - Service of process - Persons aggrieved - Hearings.

|A. The Oklahoma Public Employees Retirement System may sue and be sued in its official name, but its officers, employees, and agents shall not be personally liable for acts of the System. The service of all legal process and of all notices which may be required to be in writing, whether legal proceedings or otherwise, shall be had on the executive director at his or her office. All actions or proceedings directly or indirectly against the System shall be brought in Oklahoma County, including petitions for judicial review of individual proceedings under the Administrative Procedures Act despite any other provision to the contrary. |B. 1. Any member or participating employer, or in the case of a deceased member, a joint annuitant or beneficiary, aggrieved by any order or decision of the System made without a hearing may, within thirty (30) days after notice of the order or decision of the System, make written request to the Oklahoma Public Employees Retirement System Board of Trustees for a hearing thereon. The Board may refer any such request to a hearing examiner to conduct the hearing and make recommended findings of fact and conclusions of law to the Board. The Board shall enter final orders in all such matters which shall be considered by the Board under the provisions of the Administrative Procedures Act.2. Nothing contained in Section 901 et seq. of this title shall require the observance at any hearing of the Board or a hearing examiner designated by the Board of formal rules of pleading or evidence.3. The Board shall have jurisdiction under the Administrative Procedures Act relating to any disputes arising from the administration of the retirement or savings plans administered by the Board, including disputes involving a member, joint annuitant, beneficiary or participating employer of the System.4. Upon written request reasonably made by a person affected by the hearing at such person's expense, the Board shall cause a full stenographic record of the proceedings to be made by a competent court reporter. If transcribed, such record shall be a part of the Board's record of the hearing, and a copy of such stenographic record shall be furnished to any other party having a direct interest therein at the request and expense of such party.Added by Laws 1963, c. 50, § 4, emerg. eff. May 6, 1963. Amended by Laws 1967, c. 25, § 1, emerg. eff. March 13, 1967; Laws 1969, c. 349, § 2, emerg. eff. May 13, 1969; Laws 1979, c. 285, § 2, eff. July 1, 1979; Laws 2011, c. 75, § 1.
74 OK Stat § 74-906 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-906. Board meetings - Quorum - Compensation.

|(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.Added by Laws 1963, c. 50, § 6, emerg. eff. May 6, 1963. Amended by Laws 1986, c. 238, § 3, operative July 1, 1986; Laws 1988, c. 321, § 32, operative July 1, 1988; Laws 2017, c. 312, § 3; Laws 2021, c. 190, § 3, eff. Nov. 1, 2021.
74 OK Stat § 74-907 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-907. Offices - Record of proceedings - Financial statement - Audits.

|A. The principal office of the System shall be in quarters at Oklahoma City, Oklahoma. Offices shall be assigned to the System by the Office of Management and Enterprise Services. Upon the failure or inability of the Office of Management and Enterprise Services to provide adequate facilities, the Board is hereby authorized to contract for necessary office space in suitable quarters. If the Board acquires an office building for investment purposes, it may occupy suitable quarters in the building. |B. The Board shall keep a record of all of its proceedings, which shall be open at all reasonable hours to inspection. A statement covering the operation of the System for the past fiscal year, including income, disbursements, and the financial condition of the fund at the end of each fiscal year and showing the valuation of its assets, investments, and liabilities, shall be delivered to the Governor after the end of each fiscal year and prior to December 1 of the next fiscal year and made readily available to the members and participating employers.C. The Office of the State Auditor and Inspector shall make an annual audit of the accounts of the System. The audit shall be filed in accordance with the requirements for financial statement audits in Section 212A of this title.Added by Laws 1963, c. 50, § 7, emerg. eff. May 6, 1963. Amended by Laws 1979, c. 30, § 155, emerg. eff. April 6, 1979; Laws 1983, c. 304, § 143, eff. July 1, 1983; Laws 1994, c. 381, § 2, eff. July 1, 1994; Laws 1996, c. 290, § 18, eff. July 1, 1996; Laws 2004, c. 536, § 22, eff. July 1, 2004; Laws 2012, c. 304, § 927.
74 OK Stat § 74-907.1 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-907.1. Electronic data processing equipment.

|The Oklahoma Public Employees Retirement System is authorized to maintain electronic data processing equipment for their operations. |Added by Laws 1982, c. 319, § 8, operative July 1, 1982.
74 OK Stat § 74-909 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-909. Policies and rules for general administration.

|(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.Added by Laws 1963, c. 50, § 9, emerg. eff. May 6, 1963. Amended by Laws 1988, c. 321, § 34, operative July 1, 1988; Laws 2002, c. 354, § 3, eff. July 1, 2002 and Laws 2002, c. 438, § 6, eff. July 1, 2002.
74 OK Stat § 74-910.1a (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-910.1a. Service credit for employment with Oklahoma Employment Security Commission.

|Upon payment of a five percent (5%) contribution and interest of not to exceed five percent (5%) to the Oklahoma Public Employees Retirement System, a member of the Oklahoma Public Employees Retirement System shall receive service credit for any years of service the member had with the Oklahoma Employment Security Commission if the member is not receiving or eligible to receive service credit for the time in any other public retirement system; provided, however, effective January 1, 1990, the rate of contribution provided herein shall be ten percent (10%) and the rate of interest shall not exceed ten percent (10%), and effective January 1, 1991, to receive the service credit, the member shall pay the amount determined by the Board pursuant to Section 39 of this act. |Added by Laws 1987, c. 236, § 183, emerg. eff. July 20, 1987. Amended by Laws 1989, c. 327, § 4, eff. July 1, 1989; Laws 1990, c. 340, § 35, eff. July 1, 1990.
74 OK Stat § 74-910.4 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-910.4. Former employees of city-county health departments - Participation in Public Employees Retirement System.

|A. Effective July 1, 1998, former employees of a city-county health department who become employees of the State Department of Agriculture or the Department of Environmental Quality who elect to participate in the Oklahoma Public Employees Retirement System shall make one of the following elections on or before January 1, 1999: |1. Elect to continue the current benefits plan provided by the applicable city-county health department and not to become a member of the Oklahoma Public Employees Retirement System;2. Elect to cease accruing benefits under the current benefits plan provided by the applicable city-county health department and to purchase service credit in the Oklahoma Public Employees Retirement System in an amount equal to the time employed with the applicable city-county health department prior to the time of election and at an actuarial rate pursuant to Section 913.5 of Title 74 of the Oklahoma Statutes;3. Elect to cease accruing benefits under the current benefits plan provided by the applicable city-county health department and to purchase a prorated amount of service credit in the Oklahoma Public Employees Retirement System based on the amount received from the current benefits plan and pursuant to Section 913.5 of Title 74 of the Oklahoma Statutes;4. Elect to cease accruing benefits under the current benefits plan provided by the applicable city-county health department, not purchase any service credit in the Oklahoma Public Employees Retirement System, and to start a new retirement under the Oklahoma Public Employees Retirement System.B. Such employees who elect to participate in the Oklahoma Public Employees Retirement System shall commence accruing benefits in the Oklahoma Public Employees Retirement System after the date of election and as established by the Oklahoma Public Employees Retirement System Board of Trustees. The employees electing to purchase service credit authorized by this section shall have all such service credit canceled which is not utilized in purchasing credit in the Oklahoma Public Employees Retirement System. The purchase of service credit as provided in this section shall only be available upon the election of the employee. The election shall be made in writing, filed with the applicable city-county health department and the Oklahoma Public Employees Retirement System prior to receiving the credit purchased, and shall be irrevocable. The applicable city-county health department shall transfer the amounts from its benefits plan to the Oklahoma Public Employees Retirement System for those employees who elect to purchase service credit in the Oklahoma Public Employees Retirement System.Added by Laws 1998, c. 361, § 2, eff. July 1, 1998.
74 OK Stat § 74-911 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-911. Employee members.

|(1) Any employee of a participating employer on the entry date of such employer shall be a member of the System on the entry date. |(2) Any employee other than a state elected official who is employed by a participating employer after the entry date of such employer shall be a member of the System on the first day of the month immediately following employment.(3) Any employee who is in military service or on leave of absence on the entry date of his employer shall become a member of the System upon his return to active employment.Amended by Laws 1982, c. 319, § 3, operative July 1, 1982.
74 OK Stat § 74-912 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-912. Consolidation of other systems.

|(1) The State of Oklahoma, any county, city or town, or any instrumentality thereof whose employees or a class of whose employees are members of any other retirement or pension plan authorized by a statute of the State of Oklahoma may, by resolution adopted by the official board, body, or officer or officers authorized to apply for application, request the board to submit a proposal for consolidation of such other system with the Oklahoma Public Employees Retirement System, including an estimate of the contribution rate necessary to comply with the actuarial standard of this system. Such proposal shall provide that: (a) the operation of such other pension system shall be discontinued; (b) the existing retirants or annuitants of such other system shall continue to be paid by the Oklahoma Public Employees Retirement System on the basis of the benefits schedule applicable in such other system at the date of proposed consolidation; (c) all cash and securities to the credit of such other system shall be transferred to the Oklahoma Public Employees Retirement System; (d) funds of such other system which represent accumulated contributions, if any, of members shall be credited to the employees accumulated contribution reserve of each employee. The balance of the funds so transferred to the Oklahoma Public Employees Retirement System shall be offset against the liability on account of existing retirants, annuitants, and active members; (e) the resulting liability so determined shall be the basis for a rate of contribution of such employer; (f) such consolidation shall take effect only on the anniversary of the entry date. |Laws 1963, c. 50, § 12; Laws 1970, c. 296, § 4, emerg. eff. April 28, 1970.