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§ 695.13. Investment of monies

Oklahoma Statutes AnnotatedTitle 70. Schools

Oklahoma Statutes Annotated
Title 70. Schools (Refs & Annos)
Division III. Other School Laws
Chapter 8. Funds and Fiscal Affairs
Oklahoma Student Loan Act (Refs & Annos)
70 Okl.St.Ann. § 695.13
§ 695.13. Investment of monies
Currentness
A. Money in the “Student Loan Sinking Fund” and money in the Student Loan Fund in excess of the amount necessary for student loans may be invested by the Authority in:
1. Direct obligations of or obligations whose principal and interest are guaranteed by the United States;
2. Direct obligations of or participation certificates guaranteed by the federal intermediate credit bank, federal land banks, Federal National Mortgage Association, federal home loan banks or banks for cooperatives;
3. Certificates of deposit of any bank or trust company whose deposits are fully secured by a pledge of securities of any kind specified in this subsection; and
4. Bonds of the state or its political subdivisions.
B. Money in the “Student Loan Sinking Fund” may be invested only in obligations which are scheduled to mature prior to the date the money must be available for its intended purpose.
C. All investments under this section may be sold at the prevailing market price. Income from these investments shall be credited to the “Student Loan Sinking Fund.”

Credits

Laws 1972, c. 125, § 13, emerg. eff. April 6, 1972.
70 Okl. St. Ann. § 695.13, OK ST T. 70 § 695.13
Current with emergency effective legislation through Chapter 449 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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