1. A. There is hereby created a trust fund to be known as the "Oklahoma State Regents' Endowment Trust Fund." The Oklahoma State Regents for Higher Education shall be the trustees of said Trust Fund.
2. B. The State Regents shall utilize said Trust Fund to implement the provisions of Section 3952 of this title.
3. C. The Trust Fund principal shall consist of monies the Legislature appropriates or transfers to the Oklahoma State Regents for Higher Education for the Trust Fund, the proceeds of any obligations issued pursuant to Section 2 of this act and any monies or assets contributed to the Trust Fund from any other source, public or private. Trust Fund principal shall not be diminished for any reason except to retire obligations issued pursuant to Section 2 of this act if the State Regents fail to make such payments as provided in subsection C of Section 2 of this act.
4. D. Notwithstanding other provisions of law, income and investment return on Trust Fund principal shall accrue to the Trust Fund for use as provided by authorization of the trustees for the purposes provided in this act. No such income or investment return shall be used for administrative expenses; expenses incurred by the State Regents in the administration of the Trust Fund and of the endowment program established by this act shall be paid from monies appropriated to the State Regents' coordinating board for their general operating budget.

Laws 1989, SB 180, c. 375, § 1, emerg. eff. June 6, 1989; Amended by Laws 2004, HB 1904, c. 115, § 1, emerg. eff. April 14, 2004 (superseded document available).