Okla. Admin. Code § 610:20-1-1

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

Section 610:20-1-1 - Purpose

(a) House Bill No. 1581 of the 1988 Oklahoma Legislature appropriated $15 million to the Oklahoma State Regents for Higher Education for the purpose of establishing an endowment program to support the establishment of faculty chairs and professorships, and to carry out other related activities to improve the quality of instruction and research at colleges and universities of The Oklahoma State System of Higher Education. Examples of instruction- related projects eligible to participate in the endowment program upon approval of the State Regents are visiting professorships, artist in residence, lectureships and other such support activities.

(b) In 70 O.S., §§ 3951, 3952, and 3954, the Oklahoma Legislature provides the statutory framework for the endowment program that includes the fiduciary responsibility of the trustees and permissible investments for the endowment.

(c) Endowed chairs and distinguished professorships should be established in academic areas which will contribute to the enhancement of the overall cultural, business, scientific, and/or economic development of Oklahoma. Endowed chairs and professorships must be established in areas for which the institution has ongoing, approved academic programs.

Okla. Admin. Code § 610:20-1-1