§ 62-57.308. Maximizing college savings bond program.

It is the intent of the Oklahoma Legislature that an amount not to exceed One Hundred Million Dollars ($100,000,000.00) of any issue of bonds pursuant to this act should be structured so as to maximize a college savings bond program to benefit Oklahoma families.  For this purpose, the Commission may authorize by a majority vote the sale of college savings bonds at any discount.  In no event shall the purchaser of any bonds issued by the Commission receive any fees, compensation or other remuneration in excess of four percent (4%) of the price paid for such bonds by the purchaser of such bonds from the Commission.  The college savings bonds issued by the Commission may be issued in amounts and denominations as may be provided by resolution or indenture of the Commission to make such college savings bonds available to all citizens of the state.  The Commission is directed to provide adequate statewide publicity of the availability of such college savings bonds.  The State Board of Education and the Oklahoma State Regents for Higher Education shall cooperate with the Commission to apprise parents of students in the public schools of this state of the sale of such bonds.

Added by Laws 1992, c. 350, § 9.