Oklahoma 2024 Regular Session

Oklahoma Senate Bill SB772 Compare Versions

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Version 2 (New)

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4		-	An Act
5		-	ENROLLED SENATE
	29	+	HOUSE OF REPRESENTATIVES - FLOOR VERSION
	30	+
	31	+	STATE OF OKLAHOMA
	32	+
	33	+	1st Session of the 59th Legislature (2023)
	34	+
	35	+	ENGROSSED SENATE
6	36		BILL NO. 772 By: Daniels of the Senate
7	37
8	38		and
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10	40		Boatman, Lepak, and Hilbert
11	41		of the House
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17	47		An Act relating to charitable organizations; stating
18	48		applicability of provisions; requiring notice from
19	49		charitable organization to Attorney General prior to
20	50		certain actions; providing exception; prohibiting
21	51		transfer of certain as sets within certain time
22	52		period; providing exceptions; requiring notice to
23	53		Attorney General of certain actions related to
24	54		federal charitable income tax exem ption; requiring
25	55		Attorney General to consider certain factors in
26	56		review of certain events; requiring writ ten notice of
27	57		Attorney General for certain objection s; authorizing
28	58		review by district court; provid ing for codification;
29	59		and providing an effective date.
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35		-	SUBJECT: Charitable organizations
36		-
37	65		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
38		-
39	66		SECTION 1. NEW LAW A new section of law to be codified
40	67		in the Oklahoma Statutes as Section 552.24 of Title 18, unless there
41	68		is created a duplication in numbering, reads as follows:
42		-
43	69		A. The requirements of this section shall only apply to a
44	70		charitable organization that:
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47		-	ENR. S. B. NO. 772 Page 2
48	98		1. Is incorporated, organized, or ha s its principal place of
49	99		business in this state, or ha s assets located in this st ate with a
50	100		fair market value in exc ess of Five Hundred Thousand Dollars
51	101		($500,000.00); and
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53	102		2. Has engaged in solicitation of contributions in this state
54	103		for a period of one (1) year.
55		-
56	104		B. A charitable organization required to register under Section
57	105		552.3 of Title 18 of the Oklahoma Statutes shall give written notice
58	106		to the Attorney General no later than forty-five (45) days before
59	107		any of the following events:
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61	108		1. Dissolution of the charitable organization ;
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63	109		2. Termination of the charitable organization ;
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65	110		3. Disposition by the charitable organization of all or
66	111		substantially all of the charitable assets of the charitable
67	112		organization;
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69	113		4. Removal of the charitable organization from the jurisdiction
70	114		of this state;
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72	115		5. Removal of all or substantially all charitable assets of the
73	116		charitable organization from this state; or
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75	117		6. An amendment of the governing document that describes the
76	118		charitable purposes of the charitable organization and the use and
77	119		administration of charitable assets he ld by the charitable
78	120		organization.
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80	148		Such events shall not include a grant or other donation by a
81	149		charitable organization in the ordinary course of its operation and
82	150		consistent with its past practice.
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84	151		C. A charitable organization required to register under Section
85	152		552.3 of Title 18 of the Oklahoma Statutes shall give written notice
86	153		to the Attorney General n o later than forty-five (45) days before
87	154		the consummation of a merger, consolidation, or conversion of the
88	155		charitable organizati on.
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91		-	ENR. S. B. NO. 772 Page 3
92	156		D. A transfer of a chari table asset in connection with an event
93	157		described in subsection B or C of this section which occurs earlier
94	158		than forty-five (45) days after giving the notice required in
95	159		subsection B or C of this section shall be a violation of this
96	160		section unless before the transfer, the charitable organization
97	161		receives written consent from the Attorney General to the event or
98	162		written notice from the Attorney General that the Attorney General
99	163		will take no action re lated to the event.
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101	164		E. A charitable organization required to register under Section
102	165		552.3 of Title 18 of the Oklahoma Statutes shall give written notice
103	166		to the Attorney General no later than twenty (20) days after receipt
104	167		of a notice of revocatio n, modification, or denial of its fede ral
105	168		charitable income tax exemption.
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107	169		F. In reviewing any event for which notice is required under
108	170		subsection B or C of this section, the Attorney General shall
109	171		consider, among other relevant factors as determined by t he Attorney
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110	199		General, the value o f the assets or interests transferred, the
111	200		person or entity to which such transfer is made, the purpose of the
112	201		transfer, the source of the assets, w hether the assets consist of
113	202		donated funds or property, the donors ’ intent to the extent it can
114	203		be determined, and any expression of support by the board of
115	204		directors and the voting members of the charitable organization that
116	205		proposes to make the transfer .
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118	206		G. If the Attorney General objects to any event for which
119	207		notice is required und er subsection B or C of this section, the
120	208		Attorney General shall give written notice to the charitable
121	209		organization of the objection. Either the Attorney General or the
122	210		charitable organization may file an action with the district court
123	211		of the county in which the charitable organization is located to
124	212		obtain a review by such district court of the objection of the
125	213		Attorney General.
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127	214		SECTION 2. This act shall become effective November 1, 2023.
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130		-	ENR. S. B. NO. 772 Page 4
131		-	Passed the Senate the 9th day of March, 2023.
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133		-
134		-
135		-	Presiding Officer of the Senate
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137		-
138		-	Passed the House of Representatives the 18th day of April, 2023.
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142		-	Presiding Officer of the House
143		-	of Representatives
144		-
145		-	OFFICE OF THE GOVERNOR
146		-	Received by the Office of the Governor this _______ _____________
147		-	day of _________________ __, 20_______, at _______ o'clock _______ M.
148		-	By: _______________________ __________
149		-	Approved by the Governor of the State of Oklahoma this _____ ____
150		-	day of _________________ __, 20_______, at _______ o'clock _______ M.
151		-
152		-	_________________________________
153		-	Governor of the State of Oklahoma
154		-
155		-
156		-	OFFICE OF THE SECRETARY OF STATE
157		-	Received by the Office of the Secretary of State this _______ ___
158		-	day of __________________, 20 _______, at _______ o'clock _______ M.
159		-	By: _______________________________ __
	216	+	COMMITTEE REPORT BY: COMMITTEE ON BUSINESS AND COMMERCE, dated
	217	+	04/05/2023 - DO PASS.