723:10-1-2 - Definitions

723:10-1-2. Definitions

The following words or terms, when used in this chapter, shall have the following meaning unless the context clearly indicates otherwise:

"Act" means the Tobacco Settlement Endowment Trust Fund Act beginning at ยง 2301 of Title 62 of the Oklahoma Statutes.

"Agency" means the state office established to manage the daily functions associated with the funding of programs under the Act, which houses the executive director and staff appointed by the directors.

"Applicant" means the entity submitting the application.

"Application" means the grant request submitted to the agency together with all required information and attachments.

"Directors" means the seven-member board responsible for directing the income from the endowment trust to fund programs and administrative expenses as provided by the Act.

"Entity" means a private body, nonprofit organization or public body.

"Endowment Trust" means the account that contains part of any settlement or judgment monies from tobacco companies.

"Grantee" means the entity that is awarded funding for a program by the directors.

"Investors" means the five-member board responsible for investing endowment trust monies as provided by the Act.

"TSET" means the Tobacco Settlement Endowment Trust, and collectively includes the endowment trust, the investors, the directors and the agency.

Added at 27 Ok Reg 1971, eff 6-25-10

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