Oklahoma Tobacco Settlement Endowment Trust
Encyclopedia
The Oklahoma Tobacco Settlement Endowment Trust is a public trust
created by the State of Oklahoma to manage any money from settlements or lawsuits against any tobacco company. The Trust uses the money, through grants, to improve the health and quality of life of all Oklahomans by funding programs and services that address the hazards of tobacco use and other health issues.
, who serves as chair, and the designees of the Governor of Oklahoma
, the President pro tempore of the Oklahoma Senate
, and the Oklahoma State Auditor and Inspector
. The State Treasurer serves on the Board as long as they maintains his office and the appointed members serve four year terms.
As of 2009, the Board of Investors is composed of the following:
, the President pro tempore of the Oklahoma Senate
, the Attorney General of Oklahoma
, the State Treasurer
, the Oklahoma Superintendent of Public Instruction and the Oklahoma State Auditor and Inspector
. All members serve seven-year terms.
The Board of Directors is responsible for directing the earnings from the Trust to fund programs to improve the health and well-being of all Oklahomans, especially children and senior adults. As specified in the Constitution, at least one appointee must be appointed from each Congressional district, and not more than two appointees may be appointed from any single Congressional district. In addition, not more than four appointees may be from any one political party. All appointees must have demonstrated expertise in public or private health care or programs related to or for the benefit of children or senior adults.
The executive director is hired by the board.
As of 2010, the Board of Directors is composed of the following:
Public trust
The concept of the public trust relates back to the origins of democratic government and its seminal idea that within the public lies the true power and future of a society; therefore, whatever trust the public places in its officials must be respected....
created by the State of Oklahoma to manage any money from settlements or lawsuits against any tobacco company. The Trust uses the money, through grants, to improve the health and quality of life of all Oklahomans by funding programs and services that address the hazards of tobacco use and other health issues.
Board of Investors
The assets of the Trust are invested at the direction of a five member Board of Investors. The Board consists of the State Treasurer of OklahomaState Treasurer of Oklahoma
The State Treasurer of Oklahoma is the chief custodian of Oklahoma’s cash deposits, monies from bond sales, and other securities and collateral and directs the investments of those assets. The Treasurer provides for the safe and efficient operation of state government through effective banking,...
, who serves as chair, and the designees of the Governor of Oklahoma
Governor of Oklahoma
The governor of the state of Oklahoma is the head of state for the state of Oklahoma, United States. Under the Oklahoma Constitution, the governor is also the head of government, serving as the chief executive of the Oklahoma executive branch, of the government of Oklahoma...
, the President pro tempore of the Oklahoma Senate
President pro tempore of the Oklahoma Senate
The President pro tempore of the Oklahoma Senate is the second-highest-ranking official of the Oklahoma Senate and the highest-ranking State Senator. The Oklahoma Constitution states the Lieutenant Governor of Oklahoma serves ex officio as President of the Senate, and is the highest-ranking...
, and the Oklahoma State Auditor and Inspector
Oklahoma State Auditor and Inspector
The Oklahoma State Auditor and Inspector is the chief financial officer for the U.S. State of Oklahoma. The State Auditor and Inspector is responsible for overseeing and reviewing the financial accounts of all government agencies within Oklahoma....
. The State Treasurer serves on the Board as long as they maintains his office and the appointed members serve four year terms.
As of 2009, the Board of Investors is composed of the following:
- Scott MeachamScott MeachamScott Meacham was the 17th State Treasurer of Oklahoma, having served from June, 2005 to January, 2011, having been appointed to that post by then-Governor Brad Henry following the resignation of then-State Treasurer Robert Butkin...
- State Treasurer and Chair - Phil Tholen - appointed by the Senate President pro tempore and Vice-Chair
- David Hinkle - appointed by the State Auditor and Inspector
- David Rainbolt - appointed by the Speaker of House
- Mike Mayhall - appointed by the Governor
Board of Directors
The Trust is governed by a seven member Board of Directors. The members are appointed by seven different elected officials: the Governor of OklahomaGovernor of Oklahoma
The governor of the state of Oklahoma is the head of state for the state of Oklahoma, United States. Under the Oklahoma Constitution, the governor is also the head of government, serving as the chief executive of the Oklahoma executive branch, of the government of Oklahoma...
, the President pro tempore of the Oklahoma Senate
President pro tempore of the Oklahoma Senate
The President pro tempore of the Oklahoma Senate is the second-highest-ranking official of the Oklahoma Senate and the highest-ranking State Senator. The Oklahoma Constitution states the Lieutenant Governor of Oklahoma serves ex officio as President of the Senate, and is the highest-ranking...
, the Attorney General of Oklahoma
Attorney General of Oklahoma
The Attorney General of Oklahoma is the State Attorney General for the state of Oklahoma. The Attorney General serves as the chief legal and law enforcement officer of the State of Oklahoma. The Attorney General is responsible for providing legal advise to the various agencies and departments of...
, the State Treasurer
State Treasurer
In the state governments of the United States, 49 of the 50 states have the executive position of treasurer. Texas abolished the position of Texas State Treasurer in 1996....
, the Oklahoma Superintendent of Public Instruction and the Oklahoma State Auditor and Inspector
Oklahoma State Auditor and Inspector
The Oklahoma State Auditor and Inspector is the chief financial officer for the U.S. State of Oklahoma. The State Auditor and Inspector is responsible for overseeing and reviewing the financial accounts of all government agencies within Oklahoma....
. All members serve seven-year terms.
The Board of Directors is responsible for directing the earnings from the Trust to fund programs to improve the health and well-being of all Oklahomans, especially children and senior adults. As specified in the Constitution, at least one appointee must be appointed from each Congressional district, and not more than two appointees may be appointed from any single Congressional district. In addition, not more than four appointees may be from any one political party. All appointees must have demonstrated expertise in public or private health care or programs related to or for the benefit of children or senior adults.
The executive director is hired by the board.
As of 2010, the Board of Directors is composed of the following:
- Casey Killblane, Chair - appointed by the State Superintendent of Public Instruction (District 4)
- Kenneth D. Rowe, Vice Chair - appointed by the President Pro Tempore of the Senate (District 4)
- Lisa Nowlin, D.D.S. - appointed by the Governor (District 3)
- George E. Foster, O.D. - appointed by the Speaker of the House (District 2)
- John Kennedy - appointed by the Attorney General (District 5)
- W.R. "Bill" Lissau - appointed by the State Treasurer (District 1)
- Susan Walters Bizè - appointed by the State Auditor and Inspector (District 5)