Senate Bill No. 844, known as the Safeguarding Endowment Gifts Act, introduces new legal provisions to the Oklahoma Statutes regarding the management of endowment funds by charitable organizations. The bill defines key terms such as "charitable organization," "donor," "donor-imposed restriction," and "endowment agreement," establishing a framework for how contributions with specific conditions must be handled. It stipulates that charitable organizations cannot violate donor-imposed restrictions without facing penalties and outlines the process for donors or their legal representatives to file complaints in case of such violations.

Additionally, the bill mandates that if a charitable organization cannot fulfill the terms of an endowment agreement, they must notify the donor or their legal representative within thirty days and propose an alternative solution. It allows charitable organizations to seek judicial declarations regarding their rights and duties under endowment agreements and specifies that courts may provide remedies consistent with the charitable purposes of the agreements, but cannot order the return of donated funds. The act will take effect on November 1, 2025.