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 Oklahoma Statutes (Last Updated: September 18, 2014)
 Title 11. CITIES AND TOWNS

  § 11-50-103. Board of trustees - Membership - Election - Vacancy - Duties.  

Latest version.

  • A.  In any municipality, having in its regular employ not more than five police officers and establishing a Police Pension and Retirement System as herein provided, the clerk of such municipality is, in addition to the duties required of him, hereby created and constituted, together with two members of the Police Department of such municipality which elects to participate in the system, a Board of Trustees of the Police Pension and Retirement System of such municipality.  Within thirty (30) days after such Police Pension and Retirement System is established by the municipal governing body, the members participating in the police pension system either active on or retired from the Police Department of such municipality shall elect by ballot two members of such Police Department, one of whom shall serve for the term of two (2) years, and one for the term of four (4) years; thereafter, members participating in the police pension system either active on or retired from the Police Department shall, every two (2) years, elect by ballot one of its members to serve for the term of four (4) years upon said Board of Trustees.

    B.  In any municipality, having in its regular employ more than five police officers and establishing a Police Pension and Retirement System as herein provided, the treasurer and clerk of such municipality are, in addition to the duties required of them, hereby created and constituted, together with three members of the Police Department of such municipality which elects to participate in the system, a Board of Trustees of the Police Pension and Retirement System of such municipality.  Within thirty (30) days after such Police Pension and Retirement System is established by the municipal governing body, the members participating in the police pension system either active on or retired from the Police Department of such municipality shall elect by ballot three members of such Police Department, one of whom shall serve for the term of one (1) year, one of whom shall serve for the term of two (2) years, and one for the term of three (3) years; thereafter members participating in the police pension system either active on or retired from the Police Department shall, every year, elect by ballot one of its members to serve for the term of three (3) years upon said Board of Trustees.

    C.  If a vacancy occurs in the office of a Trustee of any Board, the vacancy shall be filled for the unexpired term in the same manner as the office was previously filled.

    D.  Such Board of Trustees shall provide for the disbursement of the funds of such system, and shall designate the beneficiaries thereof as provided in this article, or as provided by ordinances of such municipality.

    E.  The Board of Trustees created under this section shall be known as the Board of Trustees of the Police Pension and Retirement System.