§18B-12-7. No Waiver of Sovereign Immunity
Nothing contained in this article shall be deemed or construed to waive or abrogate in any way the sovereign immunity of the state or to deprive a governing board of a state institution of higher education, a state institution of higher education or any officer or employee thereof of sovereign immunity.
§18B-12-8. Not Obligation of the State
Obligations of a corporation shall not constitute debts or obligations of a state institution of higher education, the governing board thereof or the state.
§18B-12-9. Sections and Provisions Severable
The sections of this article, and the provisions and parts of said sections, are severable, and it is the intention to enact the whole or any part of the powers provided for in this article, and, if any of said sections, or the provisions or parts of any said sections, or the application thereof to […]
§18B-12-10. Assignment or Transfer of Property to Certain Corporations
(a) Institutional boards of Governors may provide and transfer funding and property, both real and personal, to corporations as defined in section one of this article, and with which the institution under its jurisdiction has contracted pursuant to the provisions of this article. Any deed that transfers real property under the provisions of this section […]
§18B-12-1. Definitions
The following words used in this article shall, unless the context clearly indicates a different meaning, be construed as follows: (a) "Agreement" means any agreement being entered into between a governing board and a corporation pursuant to section four of this article. (b) "Corporation" means a nonstock, not-for-profit corporation established under the general corporation laws […]
§18B-12-2. Legislative Findings and Purpose
(a) The Legislature finds and determines that the future economic development in the state will depend in part upon research developed at the state institutions of higher education, and enhanced research opportunities for state institutions of higher education will promote the general economic welfare of the citizens of the state. In order to enhance the […]
§18B-12-3. Boards Authorized to Contract With Corporations; Characteristics of Corporations
Each governing board for a state institution of higher education is hereby authorized to enter into agreements and any other contractual relationships with one or more corporations formed with respect to such state institution of higher education, but only if each such corporation meets the following descriptions: (1) The president and the president's appointees from […]
§18B-12-4. Agreement; Required Provisions
(a) Notwithstanding section ten, article three, chapter twelve of this code or any other provision of law to the contrary, each governing board is hereby authorized to enter into an agreement with a private corporation, which agreement shall be for the benefit of the state institution of higher education and contain the following provisions, subject […]
§18B-12-5. Audit
The operations of the corporation shall be subject to an audit by an independent Auditor.
§18B-12-6. Conflicts of Interest
Notwithstanding any other provision of this code to the contrary, officers and employees of a governing board and the affected state institution of higher education may hold appointments to offices of the corporation and be corporate directors or officers or employees of other entities contracting with either the corporation or a governing board of a […]