§ 5013.2. Expenditures from Minority Business Development Program Fund--Contracts
Oklahoma Statutes AnnotatedTitle 74. State Government
74 Okl.St.Ann. § 5013.2
§ 5013.2. Expenditures from Minority Business Development Program Fund--Contracts
A. The Oklahoma Department of Commerce shall expend so much as appropriated to the Minority Business Development Program Fund as may be necessary to accomplish contractual responsibilities for job creation and enhancement and business creation and expansion of Oklahoma minority-owned businesses. The Department may contract with organizations which support minority businesses for these purposes only after:
B. Any contract entered into pursuant to this section shall require quarterly reports of activities and expenditures upon forms prescribed by the Department. Said quarterly reports shall be reviewed by Oklahoma Futures. The Department or Oklahoma Futures may disallow expenditures and withhold funds accordingly, if reports reflect failure to comply with approved applications. All contractors shall submit annual audits as required by the Department of Commerce which may be paid from allocated, appropriated funds. The Department may utilize an amount not to exceed twenty percent (20%) of appropriated funds for administration of the minority-owned business program.
C. Contracts entered into by the Oklahoma Department of Commerce for the purpose of implementing the Minority Business Development Program shall be exempt from the requirements of the Oklahoma Central Purchasing Act.1
Credits
Laws 1992, c. 259, § 2, emerg. eff. May 22, 1992.
Footnotes
Title 74, § 85.1 et seq.
74 Okl. St. Ann. § 5013.2, OK ST T. 74 § 5013.2
Current with emergency effective legislation through Chapter 295 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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