Oklahoma Statutes
§ 70-3209 — Endowments, gifts, bequests and indirect cost
Oklahoma·Title 70 Schools
reimbursements.
A.All endowments, gifts, bequests, and indirect cost reimbursements from sponsored grants and contracts given to, or received by, any constituent institution, and the income therefrom, shall belong to and be used only for and by the recipient institution.
B.The State Regents shall not take into consideration either the principal or income of paid endowments, gifts and bequests, or any indirect cost reimbursements from sponsored grants and contracts in allocating the state-appropriated funds to such constituent institution, but shall allocate the state-appropriated funds to such institution as though such funds did not exist.
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Legislative History
Amended by Laws 1987, c. 204, § 67, operative July 1, 1987; Laws 1989, c. 281, § 9, operative July 1, 1989.
Nearby Sections
15
§ 70-1-1
Repealed§ 70-1-10
Repealed§ 70-1-101
Oklahoma School Code.§ 70-1-102
Purpose of act.§ 70-1-103
Act to be liberally construed.§ 70-1-107
Educational services - Enumeration.§ 70-1-108
School district - Definition.§ 70-1-109.1
Optional Extended School Year Program.§ 70-1-11
Repealed§ 70-1-110
Repealed