Oklahoma § 74-901 - Purpose – Establishment as qualified governmental
Full text of Oklahoma Oklahoma Statutes § 74-901 — Purpose – Establishment as qualified governmental, with citation guidance and answers to common questions.
§ 74-901. Purpose – Establishment as qualified governmental
retirement plan under federal law.
Oklahoma Statutes - Title 74. State Government
A. The purpose of this act is to provide an orderly means
whereby employees of the participating employers who qualify by
reason of age, or condition, and service, as herein set forth, may
be transferred to inactive service without prejudice and without
inflicting undue hardship upon the employees transferred, and to
enable such employees to accumulate deferred income reserves for
themselves and their dependents to provide for old age, death, and
inactive service, and for the purpose of effecting economy and
efficiency in the administration of governmental affairs.
B. The System is established as a qualified governmental
retirement plan under Sections 401(a) and 414(d) of the federal
Internal Revenue Code. The Board shall administer the System in
order to comply with the applicable provisions of the federal
Internal Revenue Code.
Added by Laws 1963, c. 50, § 1, emerg. eff. May 6, 1963. Amended by
Laws 1999, c. 257, § 29, eff. July 1, 1999.
Frequently Asked Questions About Oklahoma § 74-901
What does Oklahoma Statutes § 74-901 cover?
Section 74-901 ("Purpose – Establishment as qualified governmental") 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 § 74-901?
A common citation format is "Oklahoma Statutes § 74-901" (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 § 74-901 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.