- Payment of premiums. It is the intent of the Legislature that the Oklahoma State Regents for Higher Education shall recognize the need for and the various boards of regents in the Oklahoma State System of Higher Education be and are hereby authorized to provide liability insurance to indemnify employees of institutions and members of boards of regents in The Oklahoma State System of Higher Education while performing their official duties, provided such liability shall not exceed One Million Dollars ($1,000,000.00) and provided further that boards of regents may in their discretion pay the premium for such insurance from regular operating budget funds of the State System.
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