OK SB495

Oklahoma State Regents for Higher Education must exercise prudent investor judgment when managing the Oklahoma State Regents' Endowment Trust Fund, considering safety of capital and probable income rather than speculation.

Removes previous language that prohibited diminishing Trust Fund principal except to retire certain obligations.

Trust Fund income and investment returns accrue to the fund for purposes authorized by trustees, but cannot be used for administrative expenses.

Administrative expenses for the Trust Fund and endowment program must be paid from the State Regents' general operating budget appropriations.

Effective date of July 1, 2013, with emergency clause for immediate implementation upon passage and approval.