SB957 Summary

• Authorizes political subdivisions in Oklahoma to adopt written investment policies, ordinances, or resolutions that emphasize safety and liquidity in managing public funds

• Permits investment in 11 categories of securities including federal and state obligations, bank deposits, local government debt, banker's acceptances, commercial paper, money market funds, and qualified pooled investment programs

• Limits prime banker's acceptances to 10% of surplus funds with maximum 270-day maturity, and commercial paper to 7.5% of surplus funds with maximum 180-day maturity

• Allows pooled investment program participants to automatically be authorized for investments in categories 1-10 regardless of individual written investment plans

• Permits investment income placement in general funds, rainy day funds, capital reserve funds, or originating funds; repeals prior investment sections; effective November 1, 2025