Aboutbor

About the Board of Regents

Regent Job Description:

The Board of Regents is the governing body of the Corporation. The Board has all the powers and duties of a board of directors of a nonstock, nonprofit membership corporation under the laws of the State of Oklahoma, and is treated as the “board of directors” for all purposes that such term may be used under Oklahoma law.
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The Board of Regents has sole and complete authority over all of the business, secular, corporeal, commercial, financial, pecuniary, fiscal, and other non-spiritual affairs of the Corporation.

How Regents are chosen, terms of service, renewals:

In each calendar year, an annual election of Business Regents is held to select successors to Business Regents whose terms will expire in that calendar year and to fill vacancies on the Board. The term of a Business Regent elected each year (except where a vacancy for an unexpired term is being filled) shall be three (3) years or until the day in the third year of such Business Regent's term when the annual election of Business Regents has been held, whichever comes sooner, at which time such Business Regent shall cease to act unless he has been reelected. The term of service is until the end of the calendar year.
Thirty (30) or more days prior to the annual meeting of the Board of Business Regents, the Executive Committee submits to the Business Regents Committee a written list of persons not then members of the Board as suggested nominees to be considered by the said Business Regents Committee for nomination as Business Regents. On or before October 1, any Business Regent may submit in writing to the Executive Committee the name(s) of a person(s) to be considered as a nominee(s), and such name or names, with the Executive Committee's comments, shall be added to the Executive Committee's list. Within fifteen (15) days from the date of the close of the annual meeting of the Board of Business Regents, but in no event later than December 31, the Business Regents Committee makes nominations for Business Regents from those Board members whose terms are expiring in that calendar year and from the list submitted by the Executive Committee and notifies the Secretary of the names of the nominees and the vacancies to be filled. In making nominations, the Business Regents Committee follows, as nearly as possible, guidelines which are, from time to time, established by the Board of Regents. The Secretary shall promptly mail (but in no event later than December 31) to those Business Regents whose terms do not expire in that calendar year, at their respective last known addresses, a ballot listing the names of the said nominees, and the Business Regents to whom said ballots were mailed shall vote on said ballots their choices of Business Regents to fill the vacancies and return the ballots to the Secretary. The nominees receiving the highest number of votes of those ballots received by the Secretary within fifteen (15) days from the date when the ballots were mailed to said Business Regents shall be elected; provided, however, that in order for any such nominee to be elected, he must receive the votes of more than fifty percent (50%) of the ballots so received by the Secretary. Any vacancy in the Board of Business Regents occurring between, or remaining unfilled by, the annual elections of Business Regents may be filled at any time for the unexpired term in the same manner as above set forth, except that in such case the Business Regents Committee shall, within fifteen (15) days after receiving suggested nomination(s) from the Executive Committee, notify the Secretary of the name(s) of the nominee(s)

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