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Library: Policy

340:2-11-87. Investments

Revised 9-15-21

(a) Scope.  All investments are:

(1) made through, and with the approval of the State Treasurer; and

(2) transacted to yield the highest return in the safest manner.

(b) Authority.  Oklahoma Human Services (OKDHS) is directed to engage in investing activity through legislation, federal regulations, or as may be instructed by a donation or bequest.

(1) A donation or bequest received by OKDHS is invested to achieve compliance with the benefactor's intent.

(2) Section 203 of Title 62 of the Oklahoma Statutes establishes the Federal Disallowance Fund to pay potential federal disallowances and interest penalties.

(3) Child Support Services funds are invested, with the federal government sharing in the interest earned, pursuant to Part 304.50 of Title 45 of the Code of Federal Regulations.

(c) Investment objectives.  Investment objectives are:

(1) principal safety;

(2) a reasonable rate of return, as compared to current market conditions, with consideration of the prudent investor rule; and

(3) sufficient liquidity to meet specific fund objectives.

(d) Investment instruments.  Investment instruments authorized for purchase by OKDHS are:

(1) obligations of the United States Government, known as Treasury Bills and Treasury Notes;

(2) collateralized or insured certificates of deposit at Oklahoma banks, savings banks, savings and loan associations, and credit unions;

(3) overnight repurchase and reverse repurchase agreements; or

(4) as instructed by a donation or bequest.

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