Oklahoma § 74-5062.7 - President - Appointment - Powers and duties

§ 74-5062.7. President - Appointment - Powers and duties

A. The board of directors of the Oklahoma Development Finance

Authority shall appoint a president who shall direct and supervise

the administrative affairs and the general management of the

Authority. The board shall establish criteria for selecting the

president taking into consideration national standards for similar

positions in similar institutions in other states. The search for

the president shall be conducted pursuant to the criteria so

established. The president's salary shall be set by the board of

directors. The board may appoint the same person who is serving as,

or is appointed to be, the chief executive officer or president of

the Oklahoma Industrial Finance Authority. The board is authorized

to pay the full salary of the president or may agree to share in

this expense with the Oklahoma Industrial Finance Authority.

B. The president:

1. May employ and terminate such other officers and employees

as designated by the board of directors, including, if necessary,

legal counsel;

2. Shall attend board meetings;

3. Shall appoint a secretary to keep a record of all

proceedings and maintain and be custodian of all financial and

operational records, documents and papers filed with the Authority

and of the minute book of the Authority; and

4. Shall perform other duties directed by action of the board

of directors of the Authority in carrying out the purposes of this

act.

Added by Laws 1987, c. 222, § 55, operative July 1, 1987. Amended

by Laws 1994, c. 285, § 4, eff. July 1, 1994.