A. There is hereby created in the State Treasury a revolving fund for the Insurance Department, to be designated the "State-based Exchange Revolving Fund". The fund shall be a continuing fund, not subject to fiscal year limitations, and shall consist of any monies deposited to the fund for the creation, implementation, administration, and operation of the State-based Exchange as authorized in subsection A of Section 1 of this act. All monies accruing to the credit of the fund are hereby appropriated and may be budgeted and expended by the Department for the creation, implementation, administration, and operation of the State-based Exchange. Warrants for expenditures from the revolving fund shall be drawn by the State Treasurer, based on claims signed by an authorized employee or employees of the Insurance Department, and filed with the Director of the Office of Management and Enterprise Services. B. Notwithstanding any law to the contrary, all monies, including but not limited to user fees, paid to or collected by the Insurance Commissioner in relation to the State-based Exchange shall be deposited in the State-based Exchange Revolving Fund. Monies shall not lapse, unless otherwise specified under federal funding or federal grant, or a grant or funds from another source, or be transferred to the State Insurance Commissioner Revolving Fund or other state funds and shall not be redistributed.
‹ Prev All Oklahoma sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.