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Oklahoma Administrative Code (Last Updated: March 11, 2021) |
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TITLE 105. Oklahoma Capital Investment Board |
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Chapter 1. Administrative Operations |
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Subchapter 1. Organization |
SECTION 105:1-1-3. Organization
Latest version.
- (a) The Board shall consist of five (5) Directors appointed by the Governor with the advice and consent of the Senate. The Directors shall be selected based on outstanding knowledge and leadership and shall possess experience in the management of investments similar in nature and value to those of the Board. [74:5085.6](b) Directors shall serve terms of five (5) years. [74:5085.6](c) The Board shall annually elect from its membership a chairman. [74:5085.6](d) The Board shall appoint a President, who shall not be a Director, to serve as the chief executive officer of the Board and who shall direct and supervise the administrative affairs of the Board.(e) The Board may contract for a management firm for the Trust to properly operate the business of the Trust.