Financial disclosure now required for Oklahoma state regents

<br>OKLAHOMA CITY (AP) _ State higher education regents will be required to disclose any connections to Oklahoma universities. <br><br>The regents' new policy comes in the aftermath of complaints over

Monday, September 16th 2002, 12:00 am

By: News On 6

OKLAHOMA CITY (AP) _ State higher education regents will be required to disclose any connections to Oklahoma universities.

The regents' new policy comes in the aftermath of complaints over a regent at Northwestern Oklahoma State University in Alva selling the school building supplies from his lumberyard.

``I'm sure what happened at Alva was part of the thinking,'' said Regent Joe Mayer. ``I just think, given the climate with Enron and everything else, it is something we have to be thinking about.''

Regents must file their first disclosure statements in January. Mayer said the records will be public.

Regents will be required to note any relationships they may have with officers or employees of institutions in the state system. They must also disclose any financial interest or leadership role they have in corporations that do business with universities.

In the Northwestern case, Richard Ryerson, a member of the Board of Regents of Oklahoma Colleges, owned Starr Lumber. The company sold more than $44,000 worth of materials to Northwestern during the two years he was chairman of the regents' building committee.

Ryerson said he received advice from the regents' attorney that his company could do business with the university if he did not participate in the transaction.

Later, the board's attorney said that a regent doing business with a university would violate the state Constitution.

Ryerson was reprimanded last year by the state Ethics Commission for not disclosing his ownership of Starr Lumber during regents' board meetings.

Although the new policy is binding only on higher regents, Mayer said he hopes other boards of regents will adopt the policy, or come up with their own that addresses conflict of interest.