Judges: MICHAEL C. TURPEN, ATTORNEY GENERAL OF OKLAHOMA
Filed Date: 5/29/1984
Status: Precedential
Modified Date: 7/6/2016
OPINION — AG — ** FINANCIAL COUNSELOR — INVESTMENT COUNSELOR ** (1) THE BOARD OF TRUSTEES OF THE OKLAHOMA PUBLIC EMPLOYEES RETIREMENT SYSTEM 'MUST' ACQUIRE CONTRACTS FOR SERVICES FROM ACTUARIES, TRUST COMPANIES AND INVESTMENT COUNSELORS, AS AUTHORIZED BY 74Ohio St.908[74-908](3), 74Ohio St.908[74-908](4) BY UTILIZING THE SERVICES OF THE DULY APPOINTED PURCHASING AGENT FOR THE STATE, AS REQUIRED BY THE CENTRAL PURCHASING ACT, 74Ohio St.85.4 [74-85.4], 74Ohio St.85.5 [74-85.5] [74-85.5] (2) THOUGH THE STATE PURCHASING DIRECTOR HAS THE RESPONSIBILITY OF A FIDUCIARY IN THE PERFORMANCE OF THE DUTIES OF PURCHASING AGENT, IT REMAINS THE DUTY AND RESPONSIBILITY OF THE REQUISITIONING BOARD TO MONITOR THE PERFORMANCE OF ANY CONTRACT FOR SERVICES WITH ANY ACTUARY, TRUST COMPANY OR INVESTMENT COUNSELOR. (OFFICE OF PUBLIC AFFAIRS, PROFESSIONAL SERVICES, BIDDING, PENSION, INVESTMENT, GOVERNMENTAL CONTRACTS, COMPETITIVE BIDDING, PURCHASING AGREEMENTS, SERVICES CONTRACT, STATE AGENCY) CITE: 74Ohio St.85.1 [74-85.1], 74Ohio St.85.3 [74-85.3], 74Ohio St.85.32 [74-85.32], 74Ohio St.85.4 [74-85.4], 74Ohio St.85.5 [74-85.5], 74Ohio St.85.12 [74-85.12] 74Ohio St.903[74-903], 74Ohio St.908[74-908], 74Ohio St.908[74-908](3), 74Ohio St.908[74-908](4) 75Ohio St.318[75-318] (JAMES B. FRANKS) ** SEE: OPINION NO. 88-061 (1988) ** SEE: OPINION NO. 89-036 (1989)