Oklahoma § 62-2401 - Invest In Oklahoma program

§ 62-2401. Invest In Oklahoma program

A. The State Treasurer shall create an "Invest In Oklahoma"

program to provide entities in this state with funds for

opportunities to invest in Oklahoma-based private equity funds,

venture capital funds, growth funds, and direct investments in

Oklahoma companies to the extent allowable under the Oklahoma

Constitution.

B. Subject to final approval of the Invest in Oklahoma Board,

the State Treasurer may retain directly or through a contractual

relationship qualified investment advisors and fiduciary managers to

assist in the selection of the investments authorized under this

act. Prior to submission for confirmation and approval, the State

Treasurer's Office shall confirm with the Securities and Exchange

Commission and Oklahoma Securities Commission that the investment

advisor or fiduciary manager is in good standing. The Treasurer

shall choose an advisor or manager, based on factors including but

not limited to:

1. Rate of return;

2. Years of operation;

3. Sufficiency of capitalization;

4. Investment performance track record;

5. Differentiation and sustainability of investment strategy;

6. Fee structure;

7. Background of limited partners;

8. Ratio of capital invested in this state;

9. Investment professional with ten (10) or more years of

experience in venture capital, private equity and real estate

investing; and

10. Investment professional has experience with Oklahoma

investing.

C. The State Treasurer acting within parameters established by

the Invest in Oklahoma Board shall:

1. Exercise judgment and care, under circumstances then

prevailing, which persons of prudence, discretion and intelligence

exercise in the management of their own affairs, for investment,

considering the probable safety of their capital as well as the

probable income to be derived when determining qualifying venture

capital and growth funds to ensure the funds are being appropriately

managed and invested; and

2. Develop processes and procedures for requesting, accepting,

and decision criteria for proposals related to investments

authorized under the provisions of this act.

Oklahoma Statutes - Title 62. Public Finance

Added by Laws 2021, c. 309, § 2, eff. Nov. 1, 2021. Amended by Laws

2024, c. 375, § 2, emerg. eff. June 5, 2024; Laws 2025, c. 308, § 1,

eff. Nov. 1, 2025.