The Board of Directors of any nonprofit Agricultural Fair Corporation organized under the laws of the State of Oklahoma may establish a retirement pay plan for any of its employees faithfully performing his or her duties for a period of more than thirty (30) years. The payments shall be considered a part of current operating expenses of the corporation and the amount of the payments and methods of making the payments shall be determined from year to year by the Board of Directors as they may see fit.
Added by Laws 1949, p. 5, § 1. Amended by Laws 2001, c. 146, § 159, emerg. eff. April 30, 2001. Renumbered from § 45 of this title by Laws 2001, c. 146, § 267, emerg. eff. April 30, 2001.