SB 1728 Summary

• Changes administrative support and staffing responsibility for the Cash Management and Investment Oversight Commission from the Legislative Service Bureau to the Office of Management and Enterprise Services

• Commission consists of 5 members: Director of Office of Management and Enterprise Services, Bank Commissioner, Administrator of Oklahoma Department of Securities, and two citizen members appointed by House Speaker and Senate President Pro Tempore

• Commission must hold meetings at least quarterly to review State Treasurer investment reports, strategies, and practices, and identify violations or potential violations of law regarding investment of state funds

• Commission staff must submit monthly written reports to members identifying all entities conducting investment-related business with the State Treasurer and any compensation paid for such services

• Appointed citizen members must have no direct or indirect business relationship with the State Treasurer or State Treasurer's Office