Use of grant - Audited annually

A. The Insurance Commissioner may solicit, accept and authorize

the use of any grant made to the Insurance Department as long as the

terms of the grant are carried out and the Insurance Commissioner

holds the funds in trust for the purposes of carrying out the terms

of the grant.

Oklahoma Statutes - Title 36. Insurance Page 60

B. The Insurance Commissioner must annually account to the

State Auditor and Inspector for all monies or property received or

extended by virtue of this section. The account shall state:

1. The source of the monies or property received with the

actual date of its receipt;

2. The particular use or place for which it was expended; and

3. The balance on hand showing the place of deposit of the

unexpended balance.