Okla. Admin. Code § 753:11-3-15

Current through Vol. 42, No. 3, October 15, 2024

Section 753:11-3-15 - Acquisitions requiring CEO approval

(a) The Board grants authority to sign contractual documents in most instances to the CEO. Some contracts may also require Board member signature. The CEO may delegate such signature authority to appropriate Trust officers and directors. Unless the CEO specifically delegates this authority to an individual, they may not sign any document whatsoever that binds or has the appearance of binding the Trust; documents signed by an individual without signature authority shall be void, and the signatory shall be subject to discipline up to and including termination. Such documents include, but are not limited to, purchase orders, grants, contracts, sub-contracts, licenses, leases, funding documents, applications, extensions and renewals, letters and/or memoranda of understanding, sales orders, assurances, work orders, etc.

(b) Any acquisitions exceeding $10,000 that are not related to maintenance or construction activities must be preapproved by the CEO.

(c) All invoices must be approved by the CEO and CFO or comparable position before supplier payment. Invoices shall not be submitted to the CEO and CFO for signature unless the requesting staff has verified that the acquisition met the required specifications.

Okla. Admin. Code § 753:11-3-15

Adopted by Oklahoma Register, Volume 40, Issue 23, August 15, 2023, eff. 9/1/2023