eLaws | eCases | Oklahoma Administrative Code | Oklahoma Courts | Counties & Cities of Oklahoma | United States Code |
 Oklahoma Statutes (Last Updated: September 18, 2014)
 Title 85. WORKERS' COMPENSATION

  § 85-381. Management and conduct of business and affairs of fund.  

Latest version.

  • NOTE:  This section is due to be repealed Jan. 1, 2015, by Laws 2013, c. 254, § 53.

    The CompSource Oklahoma President and Chief Executive Officer shall have full power and authority to manage and conduct all business and affairs relating to CompSource Oklahoma, all of which business and affairs shall be conducted under the name of CompSource Oklahoma, and in that name and without any other name or title, the CompSource Oklahoma President and Chief Executive Officer may:

    (1)  Sue and be sued in all the courts of the state, in all actions arising out of any act, deed, matter or things made, omitted, entered into, done or suffered in connection with  CompSource Oklahoma, and administer, manage, or conduct all the business and affairs relating thereto.

    (2)  Make and enter into contracts of insurance as herein provided, and such other contracts or obligations relating to CompSource Oklahoma, as are authorized or permitted under the provisions of this title, including contracting with or appointing agents or brokers; provided the agents or brokers do not contract with or have an appointment solely with CompSource Oklahoma.

    (3)  Invest and reinvest the monies belonging to CompSource Oklahoma as hereinafter provided.

    (4)  Conduct all business and affairs, relating to CompSource Oklahoma, whether herein specifically designated or in addition thereto.

    (5)  The CompSource Oklahoma President and Chief Executive Officer may delegate to any officer of CompSource Oklahoma, under such rules and regulations, and subject to such conditions as he or she may from time to time prescribe, any of the powers, functions or duties conferred or imposed on the CompSource Oklahoma President and Chief Executive Officer under the provisions of this act in connection with CompSource Oklahoma, the administration, management and conduct of the business or affairs relating thereto, and the officer or officers to whom such delegation is made may exercise the power and functions and perform the duties delegated with the same force and effect as the CompSource Oklahoma President and Chief Executive Officer, but subject to his or her approval.

    (6)  The Board of Managers of CompSource Oklahoma shall not, nor shall the CompSource Oklahoma President and Chief Executive Officer or any officer or employee of CompSource Oklahoma be personally liable in his or her private capacity for or on account of any act performed or contract or other obligation entered into or undertaken in an official capacity in good faith and without intent to defraud, in connection with the administration, management or conduct of CompSource Oklahoma, its business or other affairs relating thereto.

Added by Laws 1933, c. 28, p. 59, § 1 (§ 3), eff. July 1, 1933.  Amended by Laws 1937, p. 488, § 5, emerg. eff. May 14, 1937; Laws 2002, c. 50, § 10, eff. Nov. 1, 2002; Laws 2006, c. 316, § 2, eff. July 1, 2006.  Renumbered from § 133 of this title by Laws 2011, c. 318, § 88.