TSET asks OK Supreme Court to overturn law that places limits on board

OKLAHOMA CITY – A constitutionally created board overseeing nearly $2 billion in public dollars on Tuesday asked the Oklahoma Supreme Court to overturn a recent state law saying it threatens its independence.

House Bill 2783, which Gov. Kevin Stitt let become law without his signature, allows the appointing authorities of the Tobacco Settlement Endowment Trust board to remove members at will. It also limits members of the board to seven years.

Members currently serve staggered, seven-year terms and are tasked with overseeing the public endowment fund.

“The purpose of having staggered terms is to provide continuity by new appointees joining other board members who have institutional knowledge,” the suit said.

TSET asks OK Supreme Court to overturn law that places limits on board