A. There is hereby created an Oklahoma Reward System to be administered by the Oklahoma State Bureau of Investigation for the purpose of providing a method of disbursing cash awards, referred to as a reward, to persons giving valuable information resulting in the arrest and conviction of an accused person or materially assisting in the investigation of the commission or attempted commission of a crime as determined by the Oklahoma State Bureau of Investigation.

B. The Oklahoma State Bureau of Investigation shall implement such procedures and regulations as are necessary to carry out the purposes of this act. Such procedures shall include a method for determining the amount of reward to be offered for information on a crime or series of crimes and which such crimes shall have a reward offered to assist in their solution.

C. Any person seeking to collect all or part of a reward offered under the provisions of this section shall submit the following information to the Oklahoma State Bureau of Investigation:

D. The Oklahoma State Bureau of Investigation shall make such additional requirements as deemed necessary to assure proper disbursal of the reward funds. Any person regularly employed as a peace officer, district attorney or assistant district attorney or any member of immediate family shall be prohibited from receiving any cash award from said fund.