reglab/statecodes huggingface dataset:
Oklahoma Administrative Code › Title 731 - Oklahoma Turnpike Authority › Chapter 10 - Prequalification to Bid, Suspension and Debarment of Contractors, Affiliates and Others › Section 731:10-1-4 - Proposals; right to suspend or debar from bidding

Current through Vol. 41, No. 20, July 1, 2024
(a) All proposal blanks will be obtained from the offices of the Authority's design engineer for the particular project whose address may be obtained from the Authority at the Authority's general administrative offices.
(b) Proposal blanks will be stamped with the name of the contractor and the date of issue and no other proposal blanks will be accepted. The fee for each proposal shall be twenty-five dollars ($25.00), which fee is non-refundable.
(c) No proposal for public construction projects advertised for bids by the Authority will be issued to any contractor within 24 hours of the bid opening for any contract.
(d) Right to Suspend or Debar. The Authority reserves the right to suspend or debar, under the provisions of this Rule, any contractor, affiliate of a contractor, subcontractor, material supplier, or any director, officer, agent or employee, of any such entity from bidding or participating in public construction contracts awarded by the Authority based upon (1) proof of a bidding crime (as hereinafter defined), (2) unsatisfactory performance of project work, or (3) other act or omission as set forth in this Rule.
Added at 17 Ok Reg 1713, eff 5-25-00
Oklahoma Administrative Code › Title 731 - Oklahoma Turnpike Authority › Chapter 10 - Prequalification to Bid, Suspension and Debarment of Contractors, Affiliates and Others › Section 731:10-1-5 - Debarments and suspensions

Current through Vol. 41, No. 20, July 1, 2024
(a)
Debarment.
A contractor, any affiliate of a contractor, any subcontractor, material supplier or any director, officer, agent, or employee of any such entity who commits any bidding crime in the performance of a public construction contract awarded by the Authority, or for any of the reasons set forth in this Rule shall be subject to debarment proceedings. The term "bidding crime" as used herein means any act prohibited by any state or federal law committed in any jurisdiction, such act involving fraud, conspiracy, collusion, perjury or material misrepresentation with respect to bidding on any contract, public or private.
(1) Debarment may occur for any of the following reasons:
(A) Conviction of a bidding crime resulting from a bench or jury trial, any plea of guilty or nolo contendere, any public admission of a bidding crime or any presentation as an unindicted co-conspirator admitting guilt of a bidding crime; or
(B) Conviction of any offense indicating a lack of moral and ethical integrity which may reasonably be perceived as relating to or reflecting upon the business practices of the entity or individual; or
(C) Any other cause of a serious and compelling nature affecting the responsibility of the entity or individual; or
(D) Disqualification or debarment by another state or an agency of this State, or an agency of the Federal government.
(E) Unsatisfactory performance of work on an Authority project.
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 1 - Administrative Operations › Subchapter 1 - Organization, Procedures and Records › Section 735:1-1-1 - Purpose and scope

Current through Vol. 41, No. 20, July 1, 2024
The purpose of this Chapter is to establish policies, procedures and standards that apply to the Office of State Treasurer and to other Chapters in this Title. The rules in this Chapter describe:
(1) The organization of the Office of State Treasurer;
(2) How to get information and file documents; and
(3) The general practices of the Office of State Treasurer.
Added at 13 Ok Reg 1579, eff 4-2-96 (emergency); Added at 13 Ok Reg 3337, eff 7-25-96
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 1 - Administrative Operations › Subchapter 1 - Organization, Procedures and Records › Section 735:1-1-2 - Definitions

Current through Vol. 41, No. 20, July 1, 2024
The following words and terms, when used in this Chapter, shall have the following meaning, unless the context clearly indicates otherwise:
"Office of State Treasurer" or "OST"
means the agency governed by the State Treasurer.
"State Treasurer" or "Treasurer"
means the individual who is the duly elected and acting Treasurer of the State of Oklahoma which is a statewide elected official and member of the Executive Branch of state government.
Added at 13 Ok Reg 1579, eff 4-2-96 (emergency); Added at 13 Ok Reg 3337, eff 7-25-96
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 1 - Administrative Operations › Subchapter 1 - Organization, Procedures and Records › Section 735:1-1-3 - Legal references

Current through Vol. 41, No. 20, July 1, 2024
In this Title, italic type means it exactly repeats language from a law or another legal document. The specific reference is in brackets following the italics. Language in the rules that restates laws or other legal material in other words is also followed by a reference in brackets, but it is not printed in italics.
Added at 13 Ok Reg 1579, eff 4-2-96 (emergency); Added at 13 Ok Reg 3337, eff 7-25-96
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 1 - Administrative Operations › Subchapter 1 - Organization, Procedures and Records › Section 735:1-1-4 - Severability

Current through Vol. 41, No. 20, July 1, 2024
If a court of competent jurisdiction finds any rule or part of a rule in this Title to be unenforceable, it shall not impair or invalidate the remaining rules in this Title; the remaining rules shall be valid and enforceable to the fullest extent allowed by law.
Added at 13 Ok Reg 1579, eff 4-2-96 (emergency); Added at 13 Ok Reg 3337, eff 7-25-96
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 1 - Administrative Operations › Subchapter 1 - Organization, Procedures and Records › Section 735:1-1-5 - Organization

Current through Vol. 41, No. 20, July 1, 2024
The Treasurer is the chief executive officer of OST. The Treasurer appoints every employee of OST, including the Deputy Treasurer. The Deputy Treasurer acts on behalf of OST in the absence of the Treasurer. All employees of OST serve at the pleasure of the Treasurer.
Added at 13 Ok Reg 1579, eff 4-2-96 (emergency); Added at 13 Ok Reg 3337, eff 7-25-96
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 1 - Administrative Operations › Subchapter 1 - Organization, Procedures and Records › Section 735:1-1-6 - Official office and location for information and for filing

Current through Vol. 41, No. 20, July 1, 2024
(a) Unless otherwise specified in this Title, the address of the official office and telephone number for communications with OST is: The Office of State Treasurer, 217 State Capitol, 2300 N. Lincoln Blvd., Oklahoma City, Oklahoma 73105-4895, Telephone (405) 521-3191.
(b) The normal business hours of OST are 8:30 a.m. to 5:00 p.m. Central Time, Monday through Friday, except legal holidays.
(c) Unless otherwise provided in this Title, anyone may submit or file documents with OST by mail or hand-delivery during normal business hours.
(d) Unless a document clearly states otherwise, the signature of a person on a document submitted to, or filed with, OST shall mean the person has read it and has personal knowledge of the information it contains, that every statement is true, that no statements are misleading, and that filing the document is not a delay tactic. If any document is not signed or is signed with intent to defeat the purposes of the rules in this Title, OST may ignore it and continue as though it had not been filed.
Added at 13 Ok Reg 1579, eff 4-2-96 (emergency); Added at 13 Ok Reg 3337, eff 7-25-96; Amended at 15 Ok Reg 2864, eff 6-25-98
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 1 - Administrative Operations › Subchapter 1 - Organization, Procedures and Records › Section 735:1-1-7 - Records

Current through Vol. 41, No. 20, July 1, 2024
(a)
Records retention and disposition.
OST keeps documents for at least the minimum time required by state and federal laws that pertain to archives and records. This varies depending on the type of document. OST has its records disposition schedules available for inspection.
(b)
Confidential and open records.
(1) Many records in OST are available for public inspection and release, but some are not. The records that are not available for general public access may include records described as confidential in this Section or in other Chapters in this Title, and other records that laws require or permit OST to keep confidential. OST normally keeps the following records confidential but may choose, in some cases, to make them public if law permits it.
(A) State employees' home addresses, home telephone numbers and social security numbers [51:24A.7(D)];
(B) Records which
relate to internal personnel investigations including examination and selection material for employment, hiring, appointment, promotion, demotion, discipline, or resignation
[51:24A.7(A)(1)];
(C) Employee evaluations, payroll deductions, employment applications not resulting in a person being hired by the state, and other records that would result in a clearly unwarranted invasion of personal privacy if they were disclosed [51:24A.7(A)(2)];
(D) Before taking action, personal notes and personally created materials (other than OST's budget request) prepared by OST staff as an aid to memory [51:24A.9];
(E) Before taking action, research material leading to the adoption of a policy or the implementation of a project [51:24A.9];
(F) Records coming into the possession of OST
from the federal government or records generated or gathered as a result of federal legislation may be kept confidential to the extent required by federal law
[51:24A.13]; and
(G) Documents, such as medical records and records protected by the attorney-client privilege, that are exempt from the Oklahoma Open Records Act or are specifically required or permitted by law to be kept confidential.
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 1 - Administrative Operations › Subchapter 1 - Organization, Procedures and Records › Section 735:1-1-8 - Forms and instructions

Current through Vol. 41, No. 20, July 1, 2024
Other Chapters in this Title contain references to forms and instructions OST requires. People may contact OST to request blank forms and general information about completing and submitting them.
Added at 13 Ok Reg 1579, eff 4-2-96 (emergency); Added at 13 Ok Reg 3337, eff 7-25-96
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 1 - Administrative Operations › Subchapter 3 - Administrative Rules › Section 735:1-3-1 - Procedures for adoption, amendment and repeal of rules

Current through Vol. 41, No. 20, July 1, 2024
(a) The Treasurer may adopt, amend or repeal a rule on his own initiative. The Treasurer may also conduct hearings on proposed new rules, amendments or repeal of rules.
(b) Any interested person may petition OST, requesting the adoption, amendment, or repeal of a rule. All such petitions shall be in writing, and be filed with the principal office. The petition shall include the name and address of the petitioning party and shall state clearly and concisely all matters pertaining to the requested action and the reasons for the request.
(c) The time and location of hearings shall be stated in the notice and shall be conducted in accordance with the Administrative Procedures Act.
(d) Any person who is interested or affected by proposed actions may appear at the hearing, if such a hearing is held or required by law. An appearance may be made individually, by an attorney, or by an authorized agent.
Added at 13 Ok Reg 1579, eff 4-2-96 (emergency); Added at 13 Ok Reg 3337, eff 7-25-96
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 1 - Administrative Operations › Subchapter 3 - Administrative Rules › Section 735:1-3-2 - Requests for declaratory rulings

Current through Vol. 41, No. 20, July 1, 2024
(a) Any interested person or entity may petition OST for a declaratory ruling as to the applicability of any rule of OST
(b) The petition must identify the rule questioned, the date on which such rule became effective, and shall summarize the contents of the rule. The petition shall contain a brief statement of the issue or issues raised by the rule which caused such a request to be made, and a statement of the petitioner's personal interest in the ruling of OST and how a ruling of OST would affect those interests.
(c) Upon receipt of the petition for declaratory ruling OST shall consider the petition and within a reasonable time following receipt thereof, either deny the petition in writing, stating its reasons for denial, or issue a declaratory ruling on the matter(s) contained in the petition.
Added at 13 Ok Reg 1579, eff 4-2-96 (emergency); Added at 13 Ok Reg 3337, eff 7-25-96; Amended at 15 Ok Reg 2864, eff 6-25-98
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 1 - Administrative Operations › Subchapter 5 - Formal and Informal Procedures › Section 735:1-5-1 - Purpose

Current through Vol. 41, No. 20, July 1, 2024
The rules in this Subchapter describe general formal and informal procedures OST uses to take action and make decisions. Other Chapters in this Title describe informal procedures that apply specifically to individual programs under the OST's authority.
Added at 13 Ok Reg 1579, eff 4-2-96 (emergency); Added at 13 Ok Reg 3337, eff 7-25-96
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 1 - Administrative Operations › Subchapter 5 - Formal and Informal Procedures › Section 735:1-5-2 - Right of the Treasurer to initiate action

Current through Vol. 41, No. 20, July 1, 2024
The Treasurer may take whatever action is consistent with the rules in this Title to carry out the duties of OST and accomplish the objectives of any program or activity within his or her authority. OST may use formal procedures or informal procedures, such as telephone calls, letters, meetings, mediation, investigations or other appropriate methods to resolve concerns.
Added at 13 Ok Reg 1579, eff 4-2-96 (emergency); Added at 13 Ok Reg 3337, eff 7-25-96
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 1 - Administrative Operations › Subchapter 5 - Formal and Informal Procedures › Section 735:1-5-3 - Complaints

Current through Vol. 41, No. 20, July 1, 2024
(a) Anyone may complain to the Treasurer about any matter under the OST's authority. A complaint shall be in writing, and it shall include the following information.
(1) The name, address and telephone number of the person making the complaint;
(2) The name, address and telephone number of the organization the person represents, if applicable;
(3) The name, address, telephone number and title of any representative of the person filing the complaint;
(4) A brief, clear description of each charge, problem or issue that is the basis for the complaint including names, dates, places and actions;
(5) The numbers and headings of the laws and rules that may apply;
(6) The remedy, if any, the person making the complaint seeks;
(7) The signature of the person making the complaint; and
(8) The date.
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 1 - Administrative Operations › Subchapter 5 - Formal and Informal Procedures › Section 735:1-5-4 - Representation

Current through Vol. 41, No. 20, July 1, 2024
In any administrative review or appeal authorized by this Title, any party has the right to have an attorney who is a member of the Oklahoma Bar Association. The attorney shall act for and bind the party he or she represents. After a party names an attorney, OST shall communicate with the attorney and not with the party. It shall be the responsibility of the party's attorney to communicate with the party.
Added at 13 Ok Reg 1579, eff 4-2-96 (emergency); Added at 13 Ok Reg 3337, eff 7-25-96
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 10 - Security for Public Deposits › Section 735:10-1-1 - Purpose

Current through Vol. 41, No. 20, July 1, 2024
The purpose of this Chapter is to establish rules for the collateralization of state funds on deposit with Oklahoma financial institutions.
Added at 13 Ok Reg 1583, eff 4-2-96 (emergency); Added at 13 Ok Reg 3341, eff 7-25-96
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 10 - Security for Public Deposits › Section 735:10-1-3 - State funds to be secured with collateral securities and/or collateral instruments

Current through Vol. 41, No. 20, July 1, 2024
All State funds on deposit with financial institutions shall be secured through the pledge of collateral securities and/or by providing collateral instruments to OST. If a financial institution secures State funds on deposit using collateral securities, the fair market value of the collateral securities pledged must be equal to or in excess of the maintenance percentage. If collateral instruments are used to secure State funds on deposit, the total amount provided must be equal to or greater than the State funds on deposit in excess of the FDIC-insured limit plus interest due at maturity.
Added at 13 Ok Reg 1583, eff 4-2-96 (emergency); Added at 13 Ok Reg 3341, eff 7-25-96; Amended at 15 Ok Reg 2479, eff 4-29-98 (emergency); Amended at 15 Ok Reg 2865, eff 6-25-98
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 10 - Security for Public Deposits › Section 735:10-1-4 - Pledge Agreement and Certification of Adoption of [Board of Director's or Loan Committee's] Resolution required to participate in transactions

Current through Vol. 41, No. 20, July 1, 2024
(a) OST will not place funds in excess of the FDIC-insured limit with institutions that have not entered into a "Pledge Agreement for Funds Held on Deposit" (OST Form 95-005) in Appendix A of this Chapter.
(b) The Financial institution wishing to receive state funds must complete the following steps:
(1) Complete two (2) originals of the Pledge Agreement (OST Form 95-005) in Appendix A of this Chapter.
(2) Adopt the "Certification of Adoption of [Board of Director's or Loan Committee's] Resolution" (OST Form 95-006) in Appendix B of this Chapter showing the acceptance of the Pledge Agreement by either the Board of Directors or the Loan Committee, and listing the Duly Authorized Bank Officers authorized to do business with the OST.
(3) Forward both originals of the Pledge Agreement and a certified copy of the Certification of Adoption of [Board of Directors' or Loan Committee's] Resolution to the OST. After acceptance, OST will return one (1) signed original Pledge Agreement to the financial institution for its records.
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 10 - Security for Public Deposits › Section 735:10-1-5 - Pledge or provision of collateral required to receive State funds on deposit

Current through Vol. 41, No. 20, July 1, 2024
Financial institutions accepting State funds on deposit must transfer collateral securities to a safekeeping bank and/or provide collateral instruments to OST prior to receiving said funds. Financial institutions retain a right to substitute and withdraw collateral securities, and collateral instruments if:
(1) the transaction would not reduce the total collateral pledged and provided below the required amounts as established in 735:10-1-3;
(2) the transaction is otherwise in compliance with these rules and regulations; and
(3) if the transaction is approved by the State Treasurer.
Added at 13 Ok Reg 1583, eff 4-2-96 (emergency); Added at 13 Ok Reg 3341, eff 7-25-96; Amended at 15 Ok Reg 2479, eff 4-29-98 (emergency); Amended at 15 Ok Reg 2865, eff 6-25-98
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 10 - Security for Public Deposits › Section 735:10-1-6 - Collateral security transactions through the Federal Reserve Bank

Current through Vol. 41, No. 20, July 1, 2024
The following procedures shall be used only when conducting transactions using the Federal Reserve Bank as a safekeeping bank. All other transactions shall use the procedures found at 735:10-1-7. Permissible transactions under the rules are: Pledging, Releasing and Substitution of collateral securities. When substituting collateral instruments for collateral securities, follow the procedures in 735:10-1-15.
(1) When pledging collateral securities:
(A) The financial institution (or "pledgor bank") shall:
(i) Complete Pledge Form (OST Form 95-007) in Appendix C of this Chapter.
(ii) Forward Pledge Form to OST.
(iii) Call Federal Reserve Bank and request security be pledged.
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 10 - Security for Public Deposits › Section 735:10-1-7 - Collateral security through safekeeping banks other than the Federal Reserve Bank

Current through Vol. 41, No. 20, July 1, 2024
These procedures detail transactions when using a safekeeping bank other than the Federal Reserve Bank. All other transactions shall use the procedures found at 735:10-1-6. Permissible transactions under the rules are pledging, releasing and substituting collateral securities. When substituting collateral instruments for collateral securities, follow the procedures outlined in 735:10-1-15.
(1) When pledging collateral securities:
(A) The pledgor bank shall:
(i) Complete Pledge Form (OST Form 95-007) in Appendix C of this Chapter.
(ii) Forward Pledge Form to safekeeping bank.
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 10 - Security for Public Deposits › Section 735:10-1-8 - Safekeeping receipt requirements

Current through Vol. 41, No. 20, July 1, 2024
Safekeeping receipts should include the following information: Description, pool number, CUSIP number, safekeeping receipt number, coupon rate, issue date, maturity date, original face amount (par), and original value. If this information is not listed on the safekeeping receipt, the additional information must be listed on the Pledge Form (OST Form 95-007) in Appendix C of this Chapter to make the collateral acceptable.
Added at 13 Ok Reg 1583, eff 4-2-96 (emergency); Added at 13 Ok Reg 3341, eff 7-25-96
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 10 - Security for Public Deposits › Section 735:10-1-9 - Approved safekeeping banks

Current through Vol. 41, No. 20, July 1, 2024
All safekeeping banks must be approved by the State Treasurer. A safekeeping bank must either be a Federal Reserve Bank which serves Oklahoma, a Federal Home Loan Bank which serves Oklahoma, or a financial institution located in Oklahoma. A financial institution may not deposit securities as collateral with another financial institution that it owns or controls, or which is owned or controlled by the same holding company. Any financial institution which is not already an approved safekeeping bank at the time this rule becomes effective, may request approval by the State Treasurer. The request shall be in writing and must contain information which demonstrates that the financial institution has a demonstrated record of superior performance in the safekeeping of securities for third parties.
Added at 13 Ok Reg 1583, eff 4-2-96 (emergency); Added at 13 Ok Reg 3341, eff 7-25-96
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 10 - Security for Public Deposits › Section 735:10-1-10 - Securities which can be pledged as collateral

Current through Vol. 41, No. 20, July 1, 2024
(a) The State Treasurer may select, but is not required to accept, any of the listed collateral below. The only securities which are acceptable for pledging as collateral securities through OST are as follows:
(1) United States Treasury Bills, Treasury Notes and Treasury Bonds
(2) General obligations of the State of Oklahoma and Oklahoma counties, municipalities and school districts, which obligations are not in default
(3) General obligations of any other state of the United States
(4) Obligations of instrumentalities of the State of Oklahoma and instrumentalities of Oklahoma counties, municipalities and school districts rated 1, 2, or 3 by the Municipal Rating Committee of Oklahoma, Inc.
(5) Government National Mortgage Association (GNMA), excluding CMO's
(6) Federal National Mortgage Association (FNMA), excluding CMO's
(7) Federal Home Loan Mortgage Corporation (FHLMC), excluding CMO's
(8) Federal Home Loan Banks (FHLB), excluding CMO's
(9) Federal Farm Credit Banks (Farm Credit), excluding CMO's
(10) Student Loan Marketing Association (SLMA)
(11) The guaranteed portion of loan pools containing loans guaranteed by the Small Business Administration (SBA), if the pools are being offered in the secondary market and where the guaranty of the SBA is not subject to any defenses or offsets, with the specific approval of the State Treasurer
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 10 - Security for Public Deposits › Section 735:10-1-11 - Collateral calls

Current through Vol. 41, No. 20, July 1, 2024
(a) OST will determine the fair market value of the collateral securities pledged to secure state funds on deposit not less than quarterly. For securities on which OST cannot obtain a market value from providers of market information, OST may use the market value assigned to that security by the safekeeping bank with custody of the security. In this event, the safekeeping bank must agree to timely provide this market information at intervals acceptable to OST. If no market value can be obtained through any of these methods, OST may locate a comparable security with similar attributes in terms of the type of issuer, source of debt service, maturity and for which OST has determined a fair market value. OST shall assign a value to the security of 75% of the fair market value of the comparable security. If, after determining the value of the pledged collateral securities, the amount is less than the required amounts established in 735:10-1-3, OST will impose a collateral call.
(b) OST may impose collateral calls at any time, and reserves the right to require compliance to collateral calls immediately. If compliance to collateral calls cannot be met, then the OST reserves the right to reduce the amount of the outstanding balances at the financial institution without penalty to the State.
Added at 13 Ok Reg 1583, eff 4-2-96 (emergency); Added at 13 Ok Reg 3341, eff 7-25-96; Amended at 15 Ok Reg 2479, eff 4-29-98 (emergency); Amended at 15 Ok Reg 2865, eff 6-25-98; Amended at 16 Ok Reg 1262, eff 5-13-99
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 10 - Security for Public Deposits › Section 735:10-1-12 - Addition and removal of Duly Authorized Bank Officers

Current through Vol. 41, No. 20, July 1, 2024
When institutions find it necessary to remove names from, or add names to the list of Duly Authorized Bank Officers, the following procedure must be used:
(1) The financial institution shall complete the "Certification of Removal and/or Appointment of Duly Authorized Bank Officers" (OST Form 95-008) in Appendix D of this Chapter showing the names to be removed and/or added to the list of Duly Authorized Bank Officers. If the financial institution wishes to conduct only one procedure, either adding or removing a duly authorized bank officer, then the other should be marked "not applicable."
(2) The financial institution shall then forward a certified copy of the Certification to OST. The original shall be maintained by the financial institution as an official record of the financial institution within the meaning of 12 U.S.C. §
									1823(e), as amended, continuously from the time of its execution.
Added at 13 Ok Reg 1583, eff 4-2-96 (emergency); Added at 13 Ok Reg 3341, eff 7-25-96; Amended at 15 Ok Reg 2479, eff 4-29-98 (emergency); Amended at 15 Ok Reg 2865, eff 6-25-98
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 10 - Security for Public Deposits › Section 735:10-1-13 - Acceptance of federal agency letters of credit to secure deposits

Current through Vol. 41, No. 20, July 1, 2024
OST may accept letters of credit (LOC's) from any Federal Home Loan Bank within the Federal Home Loan Bank System as a collateral instrument to secure State funds on deposit with financial institutions. Each LOC shall be in a form and shall contain such terms as shall be acceptable to the State Treasurer. Such LOC's must be unconditional, standby letters of credit which designate the OST as the irrevocable and unconditional beneficiary of the LOC. The issuing FHLB and the financial institution with State funds on deposit are required to notify OST by certified mail at least 45 days prior to cancellation or the non-renewal of an LOC. To remain qualified as an issuer of an LOC, the obligations of a FHLB must be rated and remain rated in the highest rating category of at least one of the nationally recognized rating agencies acceptable to OST. Within 48 hours of discovery of a downgrade by a rating agency, notice must be given to OST by the issuing FHLB by certified mail. An issuing FHLB may not provide LOC's for any one financial institution with State funds on deposit which exceed twenty percent (20%) of the issuing FHLB's capital and surplus. In the event of a rating downgrade, or in the event the issuing FHLB exceeds the twenty percent (20%) limitation, OST may require the financial institution with State funds on deposit to substitute conforming collateral for the LOC. The financial institutions which use LOC's to secure state deposits shall be solely responsible for the cost of securing an LOC.
Added at 15 Ok Reg 2479, eff 4-29-98 (emergency); Added at 15 Ok Reg 2865, eff 6-25-98
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 10 - Security for Public Deposits › Section 735:10-1-14 - Acceptance of surety bonds to secure deposits

Current through Vol. 41, No. 20, July 1, 2024
(a) OST may accept surety bonds as collateral instruments to secure State funds on deposit with financial institutions. A surety bond must meet the following statutory conditions to be accepted:
(1)
subject to the terms and conditions of the bond, it is irrevocable and absolute
,
(2)
the surety bond is issued by an insurance company authorized to do business in Oklahoma
,
(3)
the issuer of the surety bond does not provide surety bonds for any one financial institution in an amount that exceeds ten percent (10%) of the surety bond insurer's policyholders' surplus and contingency reserve, net of reinsurance, and
(4)
the claims-paying ability of the authorized insurance company is rated, at all relevant times, in the highest category by at least two nationally recognized rating agencies acceptable to the State Treasurer
. [62:72.5(A)(4)].
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 10 - Security for Public Deposits › Section 735:10-1-15 - Procedures for providing collateral instruments as security

Current through Vol. 41, No. 20, July 1, 2024
These procedures shall be used when providing collateral instruments as security for state deposits. Permissible transactions under the rules are providing, releasing and substituting collateral instruments for collateral instruments or for collateral securities. When substituting collateral securities for collateral instruments, follow the procedures outlined in 735:10-1-6 and 10-1-7.
(1) When providing collateral instruments:
(A) The financial institution (or "pledgor bank") shall:
(i) Complete original collateral instrument Pledge Form (OST Form 95-009) in Appendix E of this Chapter.
(ii) Attach the Certificate of Insurance or Bank Deposit Guaranty Bond (for surety bonds) or Letter of Credit (for federal agency/instrumentality letters of credit) to the Pledge Form. For a Letter of Credit (LOC) from the Federal Home Loan Bank of Topeka (FHLB), the FHLB will deliver the LOC directly to the State Treasurer's Office, and a copy of the LOC should be attached to the Pledge Form.
(iii) Forward Pledge Form and attached instruments to OST.
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 10 - Security for Public Deposits › Appendix A - Pledge Agreement for Funds Held on Deposit

Current through Vol. 41, No. 20, July 1, 2024
Figure
				1
Added at 13 Ok Reg 1583, eff 4-2-96 (emergency) ; Added at 13 Ok Reg 3341, eff 7-25-96; Revoked and reenacted at 15 Ok Reg 3749, eff 6-22-98 (emergency) ; Revoked and reenacted at 16 Ok Reg 1262, eff 5-13-99
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 10 - Security for Public Deposits › Appendix B - Certification of Adoption of Resolution

Current through Vol. 41, No. 20, July 1, 2024
Figure
				1
Added at 13 Ok Reg 1583, eff 4-2-96 (emergency) ; Added at 13 Ok Reg 3341, eff 7-25-96; Revoked and reenacted at 15 Ok Reg 3749, eff 6-22-98 (emergency) ; Revoked and reenacted at 16 Ok Reg 1262, eff 5-13-99
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 10 - Security for Public Deposits › Appendix C - Collateral Securities Pledge Form - State

Current through Vol. 41, No. 20, July 1, 2024
Figure
				1
Added at 13 Ok Reg 1583, eff 4-2-96 (emergency) ; Added at 13 Ok Reg 3341, eff 7-25-96; Revoked and reenacted at 15 Ok Reg 3749, eff 6-22-98 (emergency) ; Revoked and reenacted at 16 Ok Reg 1262, eff 5-13-99
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 10 - Security for Public Deposits › Appendix D - Certification of Removal and/or Appointment of Duly Authorized Bank Officers

Current through Vol. 41, No. 20, July 1, 2024
Figure
				1
Added at 13 Ok Reg 1583, eff 4-2-96 (emergency) ; Added at 13 Ok Reg 3341, eff 7-25-96; Revoked and reenacted at 15 Ok Reg 3749, eff 6-22-98 (emergency) ; Revoked and reenacted at 16 Ok Reg 1262, eff 5-13-99
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 10 - Security for Public Deposits › Appendix E - Collateral Instruments Pledge Form - State

Current through Vol. 41, No. 20, July 1, 2024
Figure
				1
Revoked and reenacted at 15 Ok Reg 3749, eff 6-22-98 (emergency) ; Revoked and reenacted at 16 Ok Reg 1262, eff 5-13-99
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 15 - Recording and Auditing Investment Transactions › Subchapter 1 - General Provisions › Section 735:15-1-1 - Purpose

Current through Vol. 41, No. 20, July 1, 2024
The purpose of this Chapter is to establish rules governing the recording and auditing of transactions related to the investment of public funds as required by 62 O.S., Section 89.11.
Added at 13 Ok Reg 1591, eff 4-2-96 (emergency); Added at 13 Ok Reg 3349, eff 7-25-96
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 15 - Recording and Auditing Investment Transactions › Subchapter 1 - General Provisions › Section 735:15-1-2 - Definitions

Current through Vol. 41, No. 20, July 1, 2024
The following words and terms, when used in this Title, shall have the following meaning, unless the context clearly indicates otherwise:
"Chief Investment Officer"
means the individual who is designated by the Treasurer to be principally responsible for the investment of funds and disposition of such investments under the control of OST.
"Office of State Treasurer" or "OST"
means the agency governed by the State Treasurer.
"State Treasurer" or "Treasurer"
means the individual who is the duly elected and acting Treasurer of the State of Oklahoma which is a statewide elected official and member of the Executive Branch of state government.
Added at 13 Ok Reg 1591, eff 4-2-96 (emergency); Added at 13 Ok Reg 3349, eff 7-25-96
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 15 - Recording and Auditing Investment Transactions › Subchapter 3 - Recording Investments › Section 735:15-3-1 - Chief Investment Officer duties

Current through Vol. 41, No. 20, July 1, 2024
The Chief Investment Officer shall determine the daily investment needs in accordance with the Treasurer's investment policies. When practicable, the Chief Investment Officer shall conduct a competitive bidding process with approved financial institutions selected by using approved selection criteria. After completing investment transactions, documents related to these transactions shall be forwarded to the Securities Operations Department of OST.
Added at 13 Ok Reg 1591, eff 4-2-96 (emergency); Added at 13 Ok Reg 3349, eff 7-25-96
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 15 - Recording and Auditing Investment Transactions › Subchapter 3 - Recording Investments › Section 735:15-3-2 - Duties of Securities Operations Department

Current through Vol. 41, No. 20, July 1, 2024
The Securities Operations Department shall notify the appropriate financial institution responsible for settling the investment transaction and shall provide authorization for settlement. That Department shall obtain adequate documentation related to the settlement of the transaction, and documentation confirming the price quotes when the transaction is competitively bid. All such documents shall be compiled in a trade file. The Department shall perform and document a supervisory review of the trade file for propriety and completeness. The trade files shall be maintained in a secure area. Access to the trade files shall be permitted for audit and inspection as required by state statutes.
Added at 13 Ok Reg 1591, eff 4-2-96 (emergency); Added at 13 Ok Reg 3349, eff 7-25-96
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 15 - Recording and Auditing Investment Transactions › Subchapter 5 - Auditing Investment Transactions › Section 735:15-5-1 - Duties of OST's Internal Auditor

Current through Vol. 41, No. 20, July 1, 2024
OST's Internal Auditor shall determine that the State Treasurer's investment policies and procedures adhere to state statutes, these administrative rules, and other applicable policies of OST. In carrying out those duties, he or she shall have the following specific duties:
(1) Determine that the appropriate internal controls exist, including the safeguarding of the paper and electronic documents;
(2) Determine that the trade file was prepared and reviewed by the appropriate personnel;
(3) Determine that all required documents are present;
(4) Determine that the type of investment is allowed by statute;
(5) Determine that a system of competitive bidding was used when practicable, and that only approved financial institutions were solicited;
(6) Determine that the information on all documents agrees;
(7) Determine that the recorded information agrees with the paper documents;
(8) Determine that the trade was settled in accordance with the transaction records;
(9) Conclude whether the trade was executed in accordance with the State Treasurer's investment policies and procedures and state statutes;
(10) Report to the State Treasurer any exceptions noted during the examination; and
(11) Conduct appropriate follow-up procedures to assure that any exceptions noted have been resolved in a proper and timely manner.
Added at 13 Ok Reg 1591, eff 4-2-96 (emergency); Added at 13 Ok Reg 3349, eff 7-25-96; Amended at 24 Ok Reg 2420, eff 6-26-07
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 20 - Security for Local Entity Deposits › Section 735:20-1-1 - Purpose

Current through Vol. 41, No. 20, July 1, 2024
The purpose of this Chapter is to establish rules for the collateralization of local public entity funds on deposit with Oklahoma financial institutions.
Added at 16 Ok Reg 1275, eff 5-13-99
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 20 - Security for Local Entity Deposits › Section 735:20-1-3 - Public entity funds to be secured with collateral securities and/or collateral instruments

Current through Vol. 41, No. 20, July 1, 2024
All public entities which must comply with the Security for Local Public Deposits Act (62 O.S. §§
								517.1 et seq.), which have funds on deposit with financial institutions shall be secured through the pledge of collateral securities and/or provide collateral instruments to the local public entity. If a financial institution secures public entity funds on deposit using only collateral securities, the fair market value of the collateral securities pledged must be equal to or in excess of the maintenance percentage. If only collateral instruments are used to secure public entity funds on deposit, the total amount provided must be equal to or greater than the local public entity funds on deposit in excess of the FDIC-insured limit plus interest due at maturity. Alternatively, if a financial institution pledges and provides both collateral securities and collateral instruments, the total of the fair market value of the securities and the amount of the instruments must be equal to or in excess of the maintenance percentage.
Added at 16 Ok Reg 1275, eff 5-13-99; Amended at 18 Ok Reg 2857, eff 7-1-01
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 20 - Security for Local Entity Deposits › Section 735:20-1-4 - Pledge or provision of collateral required to receive local public entity funds on deposit

Current through Vol. 41, No. 20, July 1, 2024
Financial institutions accepting funds on deposit from public entities under the Security for Local Public Deposits Act, must transfer collateral securities to a safekeeping bank and/or provide collateral instruments to the public entity prior to receiving said funds. Financial institutions retain a right to substitute and withdraw collateral securities, and collateral instruments if:
(1) the transaction would not reduce the total collateral pledged and provided below the required amounts as established in 735:20-1-3;
(2) the transaction is otherwise in compliance with these rules and regulations; and
(3) if the transaction is approved by the public entity treasurer.
Added at 16 Ok Reg 1275, eff 5-13-99; Amended at 18 Ok Reg 2857, eff 7-1-01
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 20 - Security for Local Entity Deposits › Section 735:20-1-5 - Pledging and Releasing Collateral Instruments

Current through Vol. 41, No. 20, July 1, 2024
These procedures shall be used when providing collateral instruments as security for public entity deposits. Permissible transactions under the rules are providing, releasing and substituting collateral instruments for collateral instruments or for collateral securities. When substituting collateral securities for collateral instruments, follow the procedures outlined in 735:20-1-6.
(1) When providing collateral instruments:
(A) The financial institution (or "pledgor bank") shall:
(i) Complete original collateral instrument Pledge Form (OST Form 2001-6) in Appendix N of this Chapter, in the lines dealing with the description of the Instrument:
(I) Instrument description
(II) Issuer
(III) Issue date
(IV) Original face amount
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 20 - Security for Local Entity Deposits › Section 735:20-1-6 - Pledging and Releasing Collateral Securities

Current through Vol. 41, No. 20, July 1, 2024
(a)
Pledging through the Federal Reserve Bank.
T
he following procedures shall be used only when conducting transactions using the Federal Reserve Bank as a safekeeping bank. All other transactions shall use the procedures found at 735:20-1-6(b). Permissible transactions under the rules are Pledging, Releasing and Substitution of collateral securities.
(1) When pledging collateral securities through the Federal Reserve Bank:
(A) The pledgor bank shall:
(i) Complete original Pledge Form (OST Form 2001-5) in Appendix M of this Chapter, in the lines dealing with the description of the Security:
(I) Security description
(II) Rate
(III) Issue date
(IV) CUSIP number
(V) Maturity date
(VI) Original face amount
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 20 - Security for Local Entity Deposits › Section 735:20-1-7 - Safekeeping receipt requirements

Current through Vol. 41, No. 20, July 1, 2024
Safekeeping receipts should include the security description, pool number, CUSIP number, safekeeping receipt number (unless pledged through the Federal Reserve Bank), coupon rate, issue date, maturity date, original face amount (par), and original value.
Added at 16 Ok Reg 1275, eff 5-13-99; Amended at 18 Ok Reg 2857, eff 7-1-01
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 20 - Security for Local Entity Deposits › Section 735:20-1-8 - Approved safekeeping banks

Current through Vol. 41, No. 20, July 1, 2024
All safekeeping banks must be approved by the State Treasurer. A safekeeping bank must either be a Federal Reserve Bank which serves Oklahoma, a Federal Home Loan Bank which serves Oklahoma, or a financial institution located in Oklahoma. A financial institution may not deposit securities as collateral with another financial institution that it owns or controls, or which is owned or controlled by the same holding company. Any financial institution which is not already an approved safekeeping bank at the time this rule becomes effective, may request approval by the State Treasurer. The request shall be in writing and must contain information which demonstrates that the financial institution has a demonstrated record of superior performance in the safekeeping of securities for third parties.
Added at 16 Ok Reg 1275, eff 5-13-99
Oklahoma Administrative Code › Title 735 - State Treasurer › Chapter 20 - Security for Local Entity Deposits › Section 735:20-1-9 - Securities which can be pledged as collateral

Current through Vol. 41, No. 20, July 1, 2024
(a) Each public entity treasurer may select the type of collateral which is acceptable. The treasurer may select, but is not required to accept, any of the listed collateral below. The only securities which are acceptable for pledging as collateral securities for public entity deposits are as follows:
(1) United States Treasury Bills, Treasury Notes and Treasury Bonds
(2) General obligations of the State of Oklahoma and Oklahoma counties, municipalities and school districts, which obligations are not in default
(3) General obligations of any other state of the United States
(4) Obligations of instrumentalities of the State of Oklahoma and instrumentalities of Oklahoma counties, municipalities and school districts rated 1, 2, or 3 by the Municipal Rating Committee of Oklahoma, Inc.
(5) Revenue bonds or notes issued by a public trust which operates a public utility and of which the depositing entity is the sole beneficiary
(6) Bonds, Notes, or Obligations issued by the Government National Mortgage Association (GNMA), excluding CMO's
(7) Bonds, Notes, or Obligations issued by the Federal National Mortgage Association (FNMA), excluding CMO's
(8) Bonds, Notes, or Obligations issued by the Federal Home Loan Mortgage Corporation (FHLMC), excluding CMO's
(9) Bonds, Notes, or Obligations issued by the Federal Home Loan Banks (FHLB), excluding CMO's
(10) Bonds, Notes, or Obligations issued by the Federal Farm Credit Banks (Farm Credit), excluding CMO's
(11) Bonds, Notes, or Obligations issued by the Student Loan Marketing Association (SLMA)
(12) The guaranteed portion of loan pools containing loans guaranteed by the Small Business Administration (SBA), if the pools are being offered in the secondary market and where the guaranty of the SBA is not subject to any defenses or offsets, with the specific approval of the public entity treasurer, as to each pool