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Oklahoma Administrative Code (Last Updated: March 11, 2021) |
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TITLE 610. State Regents for Higher Education |
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Chapter 25. Student Financial Aid and Scholarships |
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Subchapter 29. Tulsa Reconciliation Education and Scholarship Act |
SECTION 610:25-29-5. Trust funds
Latest version.
- (a) The Oklahoma State Regents for Higher Education will serve as the Board of Trustees for the Tulsa Reconciliation Education and Scholarship Trust Fund. The Board will invest the trust corpus in a reasonable and prudent manner, subject to further limitations and safeguards provided in existing, applicable State Regents' investment policies.(b) The Trust Fund capital shall consist of monies the Legislature appropriates or transfers to the Oklahoma State Regents for Higher Education for the Trust Fund, monies transferred from donations from taxpayers pursuant to Section 2627 of Title 70, and any monies or assets contributed to the Trust Fund from any other source, public or private. [70 O.S. §2626(C)](c) Both the trust capital and earnings income for the trust funds will accrue to the fund and may be used only for the scholarship awards.(d) The State Regents may, at the time an award is made on behalf of a Tulsa Reconciliation Education and Scholarship Program participant, set aside in the Trust Fund funds for the full commitment made to such participant.