The powers and duties of the Oklahoma Space Industry Development Authority to carry out the provisions of the Oklahoma Space Industry Development Act shall be exercised by and through the Board of Directors. Without limiting the generality of the foregoing, the Board shall have the power and authority to:

1. 1. Adopt, amend, and repeal rules to carry out the purposes of the Oklahoma Space Industry Development Act;
2. 2. Execute all contracts and other documents necessary or desirable to carry out the purposes of the Oklahoma Space Industry Development Act; provided, the Board may authorize one or more members of the Board to execute contracts and other documents on behalf of the Board or the Authority;
3. 3. Hire employees;
4. 4. Contract for the services of attorneys, underwriters or other financial professionals for the purpose of issuing and marketing the obligations of the Authority, notwithstanding the provisions of Section 18c of this title;
5. 5. Engage in the planning for spaceports and the spaceport system;
6. 6. Execute intergovernmental agreements as provided by law;
7. 7. Establish reserve funds for future Board operations;
8. 8. Enter into agreements for the joint development of properties necessary or convenient for, the operation of spaceports and the spaceport system; and
9. 9. Prepare an annual report of operations.

Laws 1999, SB 720, c. 164, § 9, emerg. eff. July 1, 1999; Amended by Laws 2025, SB 912, c. 274, § 7, emerg. eff. July 1, 2025 (superseded document available); Renumbered from 74 O.S. 5209 by Laws 2025, SB 912, c. 274, § 27, emerg. eff. July 1, 2025.