Okla. Admin. Code § 590:35-17-1

Current through Vol. 42, No. 4, November 1, 2024

Section 590:35-17-1 - Establishment and acceptance of Trust

(a) The Board of Trustees acts as trustee of the Trust. The Board of Trustees takes, holds, invests, administers and distributes in accordance with this Plan and Trust, all contributions and assets paid or delivered to the Board of Trustees pursuant to the Plan for the uses and purposes herein expressed.

(b) The Board of Trustees shall be accountable for all contributions received, but shall have no duty to require any contributions to be made or to determine that the amounts received comply with the Plan, or to determine that the Trust Fund is adequate to provide the benefits payable pursuant to the Plan.

Added at 15 Ok Reg 793, eff 11-12-97 (emergency); Added at 15 Ok Reg 3282, eff 7-13-98