§ 73-98.4. Not-for-profit corporation - Funding - Staff and advisory groups.  


Latest version.
  • A.  There is hereby authorized the creation of a not-for-profit corporation to raise funds and to assist in the implementation of the master plan relating to the centennial commemoration of Oklahoma's statehood in 1907.

    B.  The board of directors of the corporation authorized in subsection A of this section is authorized to select a name for the corporation.  The board shall choose its own chairperson.

    C.  After proper incorporation, the not-for-profit corporation is authorized and directed to apply for tax-exempt status under Section 501(c)(3) of the Internal Revenue Code (26 U.S.C., Section 501(c)(3)).

    D.  In addition to funds received from the general public or other public and private sources, the not-for-profit corporation may receive funds from state agencies at such times and in such amounts as may be appropriated by the Legislature for the Oklahoma centennial or made available to the corporation from state agencies from their sources of revenue.

    E.  Costs to underwrite activities related to the commemoration of the Oklahoma centennial may be borne from revenues of the not-for-profit corporation.

    F.  Upon the incorporation, the not-for-profit corporation shall be authorized to hire staff and name advisory groups or steering committees as necessary to assist in the centennial commemoration pursuant to the Oklahoma Centennial Act.

Added by Laws 1998, c. 255, § 5, eff. July 1, 1998.