Oklahoma Administrative Code, Title 723

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Chapter 1 Organization and Procedure

Okla. Admin. Code § 723:1-1-1 Purpose

The rules in this chapter provide the organizational and procedural framework for the Tobacco Settlement Endowment Trust Fund and provide the necessary channels through which the public can gain information about the Tobacco Settlement Endowment Trust Fund and its functions.

History

• Added at 27 Ok Reg 1969, eff 6-25-10

Okla. Admin. Code § 723:1-1-2 Definitions

The following words or terms, when used in this chapter, shall have the following meaning unless the context clearly indicates otherwise:

"Act" means the Tobacco Settlement Endowment Trust Fund Act beginning at § 2301 of Title 62 of the Oklahoma Statutes.

"Agency" means the state office established to manage the daily functions associated with the funding of programs under the Act and which houses the executive director and staff appointed by the directors.

"Applicant" means the entity submitting the application.

"Application" means the grant request submitted to the agency together with all required information and attachments.

"Directors" means the seven-member board responsible for directing the income from the endowment trust to fund programs and administrative expenses as provided by the Act.

"Entity" means a private, nonprofit or public body.

"Interested entity" means an entity that has contacted the agency and requested to be notified when requests for proposals are open for submission.

"Endowment Trust" means the account that contains part of any settlement or judgment monies from tobacco companies.

"Investors" means the five-member board responsible for investing endowment trust monies as provided by the Act.

"TSET" means the Tobacco Settlement Endowment Trust, and collectively includes the endowment trust, the investors, the directors and the agency.

History

• Added at 27 Ok Reg 1969, eff 6-25-10

Okla. Admin. Code § 723:1-1-3 TSET

(a) The endowment trust was established through a constitutional amendment approved by Oklahoma voters in November 2000 to assure that tobacco settlement funds were used for programs to improve the health and well-being of Oklahomans.

(b) The agency was established in 2002.

(c) The investors meet at least once per quarter at the State Capitol or other location determined by the investors, and all meetings are open to the public.

(d) The directors meet at least once per quarter at the agency or other location determined by the directors, and all meetings are open to the public.

History

• Added at 27 Ok Reg 1969, eff 6-25-10