Section 601.68 - Not-for-profit foundationA. There is hereby authorized the establishment of a not-for-profit foundation to raise funds for the Children with Disabilities Comprehensive Systems of Services Fund Act of 2013 and the achievement of the goals of the act.B. The foundation created pursuant to this section may receive funds from any public or private source to carry out the purposes of this act, including, but not limited to, gifts or grants from any department, agency, or instrumentality of the United States or of this state for any purposes consistent with the provisions of this act.C. Upon proper incorporation, the foundation shall secure tax-exempt status under the appropriate provision of Section 501(c) of the Internal Revenue Code, 26 U.S.C., Section 501(c).D. Any member of the foundation who may have a financial interest in an action under consideration by the foundation shall abstain from voting on such matter.Okla. Stat. tit. 10, § 601.68
Added by Laws 2013 , c. 359, s. 3, eff. 11/1/2013.