OK HB1561

Prohibits all Oklahoma state and local managed funds—including public pension funds, municipal investment funds, and university endowments—from holding investments in foreign adversaries, companies owned or controlled by foreign adversaries, state-owned enterprises of foreign adversaries, or companies domiciled within foreign adversary nations

Requires complete divestment from prohibited holdings by January 1, 2036, or 10 years after the effective date, with divestment defined as reducing prohibited investments to no more than 0.05% of total assets under management

Defines "foreign adversary" as any country designated by the U.S. Secretary of State as hostile or a Country of Particular Concern (CPC), with a 10-year divestment window whenever a new country receives this designation

Directs the State Treasurer to develop a notification system to identify foreign adversaries, and requires affected entities to identify all prohibited companies within 6 months of the effective date

Grants public pension systems (including firefighters, police, teachers, judges, law enforcement, and public employees retirement systems), their boards, and employees immunity from civil liability for any losses related to compliance with the act, plus indemnification for legal defense costs