SB1701 Summary

• Renames the "Oklahoma Agricultural Commodity Referendum Act" and expands its purpose to include procedures for converting existing statutory commodity boards into private successor organizations

• Allows nonprofit organizations to petition the Commissioner of Agriculture to replace existing statutory commodity boards (like the Peanut Commission and Wheat Commission) with successor organizations that are not state agencies

• Establishes requirements for successor organizations including board election procedures, bylaws approval, assessment collection and refund processes, and annual reporting to the Commissioner

• Protects employee retirement and leave benefits by requiring successor organizations to maintain state retirement system membership for existing employees, recognize accumulated leave, and continue employer contributions

• Transfers all funds, equipment, and property from statutory boards to approved successor organizations upon approval, with such property no longer subject to state surplus property laws