OK SB1865

Establishes the Oklahoma Board of Private Vocational Schools Revolving Fund as a continuing fund in the State Treasury to receive all fees and penalties collected by the Board under sections 21-103, 21-106, and 21-111 of Title 70.

Removes the requirement that the Board obtain legislative authorization to budget and expend monies from the revolving fund, allowing the Board to use fund monies directly for its operations and functions.

Allows the Board to use all fund monies exclusively for the purpose of operations and functions of the Oklahoma Board of Private Vocational Schools, with expenditures made upon warrants issued by the State Treasurer.

Transfers any remaining balance from the repealed Private Vocational Student Tuition Recovery Fund to the newly created Oklahoma Board of Private Vocational Schools Revolving Fund.

Becomes effective November 1, 2012.