Oklahoma § 70-695.3 - Oklahoma Student Loan Authority - Bonds - Legal
Full text of Oklahoma Oklahoma Statutes § 70-695.3 — Oklahoma Student Loan Authority - Bonds - Legal, with citation guidance and answers to common questions.
§ 70-695.3. Oklahoma Student Loan Authority - Bonds - Legal
investments - Tax exemption.
The Governor is hereby authorized to accept beneficial interest
on behalf of the State of Oklahoma in an express trust which shall
be an agency of the state for the specific object and purpose of
providing student loan funds pursuant to requirements of any
appropriate federal agency to qualified persons as provided herein.
Said state trust shall be entitled the Oklahoma Student Loan
Authority. The Authority shall be created in accordance with the
provisions of Section 176 et seq. of Title 60 of the Oklahoma
Statutes. It shall issue bonds or other obligations from time to
time for and on behalf of the State of Oklahoma as such funds are
needed to underwrite loans to qualified persons at participating
institutions as provided herein. Bonds issued by the Authority, or
Oklahoma Statutes - Title 70. Schools
interest thereon, shall be paid through funds received by the
Authority as provided in Section 695.7 of this title.
All bonds issued under the Oklahoma Student Loan Act are legal
and authorized investments for banks, savings banks, trust
companies, savings and loan associations, insurance companies,
credit unions, fiduciaries, trustees and guardians, and for the
State of Oklahoma and any of its political subdivisions,
departments, institutions and agencies. When accompanied by all
unmatured coupons appurtenant thereto, the bonds are sufficient
security for all deposits of state funds and of all funds of any
board in control at the par value of the bond. The bonds and the
income therefrom are free from taxation within this state.
Added by Laws 1972, c. 125, § 3, emerg. eff. April 6, 1972. Amended
by Laws 1987, c. 81, § 2, operative July 1, 1987. Amended by Laws
2024, c. 242, § 2, eff. Nov. 1, 2024.
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 70-695.3
What does Oklahoma Statutes § 70-695.3 cover?
Section 70-695.3 ("Oklahoma Student Loan Authority - Bonds - Legal") 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 § 70-695.3?
A common citation format is "Oklahoma Statutes § 70-695.3" (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 § 70-695.3 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.