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ORU Board of Regents Accepts Final Proposal

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The ORU Board of Regents voted yesterday to accept the final proposal and statement of commitment from the Green family. The vote was unanimous. Once the Green family believes the conditions of their proposal have been satisfied, the new articles of incorporation and bylaws will be filed with the Secretary of State. At that point, Oral Roberts University will be governed by the new Board of Trustees.

"I am pleased with the action of the board of regents and believe that this decision will help ensure the financial viability and the founding vision and mission of the university for generations," said George Pearsons, chairman of the board of regents.

"Our family is thankful for the board of regents and their years of dedicated service to this great university," said Mart Green. "The shared governance model that has been adopted will allow the university to grow and regain trust. I have spoken with our new trustees and we are all excited about getting started in our new roles."

The Green family has seven days to accept or reject the approval of the proposal in large part based on whether the university can settle outstanding litigation.