Oklahoma § 70-2291 - William P. Willis Trust Fund
Full text of Oklahoma Oklahoma Statutes § 70-2291 — William P. Willis Trust Fund, with citation guidance and answers to common questions.
§ 70-2291. William P. Willis Trust Fund
A. There is hereby created a trust fund to be known as the
"William P. Willis Trust Fund". The Trust Fund shall be managed and
controlled by a Board of Trustees. The Oklahoma State Regents for
Higher Education shall constitute the Board of Trustees of the
William P. Willis Trust Fund.
B. The trust capital shall consist of:
1. any monies the Legislature may appropriate and transfer to
the Trust Fund; and
2. any monies or assets contributed to the Trust Fund from any
other source.
C. The Board of Trustees shall invest the trust capital in a
reasonable and prudent manner which, consistent with any long-term
Oklahoma Statutes - Title 70. Schools
investment needs, will produce the greatest trust income over the
term of the investment while preserving the trust capital.
D. All trust income shall be deposited in the William P. Willis
Scholarship Fund to be used for the payment of scholarships awarded
from said Fund.
Added by Laws 1986, c. 246, § 12, operative July 1, 1986.
Frequently Asked Questions About Oklahoma § 70-2291
What does Oklahoma Statutes § 70-2291 cover?
Section 70-2291 ("William P. Willis Trust Fund") is part of the Oklahoma Statutes, the codified statutory law of Oklahoma. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Oklahoma § 70-2291?
A common citation format is "Oklahoma Statutes § 70-2291" (Oklahoma). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Oklahoma law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Oklahoma official source linked on this page or consult a licensed Oklahoma attorney.
How does Oklahoma § 70-2291 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Oklahoma can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Oklahoma.