Court Opinion

ID: 3790632
Source: CourtListenerOpinion
Date Created: 2016-07-06 07:38:12.382316+00
Date Added: 2024-06-11T13:44:54.091388
License: Public Domain

OPINION — AG — ** FINANCIAL COUNSELOR — INVESTMENT COUNSELOR ** (1) THE BOARD OF TRUSTEES OF THE OKLAHOMA PUBLIC EMPLOYEES RETIREMENT SYSTEM 'MUST' ACQUIRE CONTRACTS FOR SERVICES FROM ACTUARIES, TRUST COMPANIES AND INVESTMENT COUNSELORS, AS AUTHORIZED BY 74 Ohio St. 908 [74-908](3), 74 Ohio St. 908 [74-908](4) BY UTILIZING THE SERVICES OF THE DULY APPOINTED PURCHASING AGENT FOR THE STATE, AS REQUIRED BY THE CENTRAL PURCHASING ACT, 74 Ohio St. 85.4 [74-85.4], 74 Ohio St. 85.5 [74-85.5] [74-85.5] (2) THOUGH THE STATE PURCHASING DIRECTOR HAS THE RESPONSIBILITY OF A FIDUCIARY IN THE PERFORMANCE OF THE DUTIES OF PURCHASING AGENT, IT REMAINS THE DUTY AND RESPONSIBILITY OF THE REQUISITIONING BOARD TO MONITOR THE PERFORMANCE OF ANY CONTRACT FOR SERVICES WITH ANY ACTUARY, TRUST COMPANY OR INVESTMENT COUNSELOR. (OFFICE OF PUBLIC AFFAIRS,  PROFESSIONAL SERVICES, BIDDING, PENSION, INVESTMENT, GOVERNMENTAL CONTRACTS, COMPETITIVE BIDDING, PURCHASING AGREEMENTS, SERVICES CONTRACT, STATE AGENCY) CITE: 74 Ohio St. 85.1 [74-85.1], 74 Ohio St. 85.3 [74-85.3], 74 Ohio St. 85.32 [74-85.32], 74 Ohio St. 85.4 [74-85.4], 74 Ohio St. 85.5 [74-85.5], 74 Ohio St. 85.12 [74-85.12] 74 Ohio St. 903 [74-903], 74 Ohio St. 908 [74-908], 74 Ohio St. 908 [74-908](3), 74 Ohio St. 908 [74-908](4) 75 Ohio St. 318 [75-318] (JAMES B. FRANKS) ** SEE: OPINION NO. 88-061 (1988)  ** SEE: OPINION NO. 89-036 (1989)