§ 62-2401 — Invest In Oklahoma program.

A. The State Treasurer shall create an "Invest In Oklahoma" program to provide entities in this state with funds for opportunities to invest in Oklahoma-based private equity funds, venture capital funds, growth funds, and direct investments in Oklahoma companies to the extent allowable under the Oklahoma Constitution. B. Subject to final approval of the Invest in Oklahoma Board, the State Treasurer may retain directly or through a contractual relationship qualified investment advisors and fiduciary managers to assist in the selection of the investments authorized under this act. Prior to submission for confirmation and approval, the State Treasurer's Office shall confirm with the Securities and Exchange Commission and Oklahoma Securities Commission that the investment advisor or fiduciary manager is in good standing. The Treasurer shall choose an advisor or manager, based on factors including but not limited to: 1. Rate of return; 2. Years of operation; 3. Sufficiency of capitalization; 4. Investment performance track record; 5. Differentiation and sustainability of investment strategy; 6. Fee structure; 7. Background of limited partners; 8. Ratio of capital invested in this state; 9. Investment professional with ten (10) or more years of experience in venture capital, private equity and real estate investing; and 10. Investment professional has experience with Oklahoma investing. C. The State Treasurer acting within parameters established by the Invest in Oklahoma Board shall: 1. Exercise judgment and care, under circumstances then prevailing, which persons of prudence, discretion and intelligence exercise in the management of their own affairs, for investment, considering the probable safety of their capital as well as the probable income to be derived when determining qualifying venture capital and growth funds to ensure the funds are being appropriately managed and invested; and 2. Develop processes and procedures for requesting, accepting, and decision criteria for proposals related to investments authorized under the provisions of this act.

Legislative History

Added by Laws 2021, c. 309, § 2, eff. Nov. 1, 2021. Amended by Laws 2024, c. 375, § 2, emerg. eff. June 5, 2024; Laws 2025, c. 308, § 1, eff. Nov. 1, 2025.