A. There is hereby created in the State Treasury a fund to be known as the State Department of Agriculture Revolving Fund. All monies, fees, and revenues collected, authorized, or received from any source by the State Board of Agriculture or any division, officer, or employee of the State Department of Agriculture pursuant to the provisions of the Oklahoma Agricultural Code or any law or agreement shall be deposited in the fund.

B. The fund shall be a continuing fund and shall be expended only for purposes specifically authorized and approved by a majority vote of the five (5) members appointed to and constituting the Board. The President, in the absence of the Board, may approve disbursements for lawfully authorized purposes. Expenditures from the fund shall be made only for defraying the costs and expenses of providing inspection, sampling, grading, and other services authorized by the Board for which fees or other monies have been paid into the fund and for which other monies are not available for the payment of services.

C. The Board shall have authority to employ and pay out of the fund inspectors, graders, or other personnel as needed or required to conduct authorized services.

D. All claims against the fund shall be paid only upon the majority approval of the Board, or the President in the absence of the Board.

Laws 1955, HB 505, p. 4, § 10; Amended by Laws 1965, HB 963, c. 380, §1, emerg. eff. June 29, 1965; Amended by Laws 1977, SB 111, c. 251, § 7, emerg. eff. June 15, 1977; Amended by Laws 2000, SB 1402, c. 243, § 12, emerg. eff. May 24, 2000 (superseded document available).