Section 10-435 - Grant and loan conditions. - Maryland Statutes

§ 10-435. Grant and loan conditions.
 

(a)  In general.- A grant or loan awarded under this part is contingent on the recipient: 

(1) submitting to the Commission approval from an institutional review board; and 

(2) entering into a memorandum of understanding with the Corporation that: 

(i) establishes the scope of the State's ownership or other financial interest in the commercialization and other benefits of the results, products, inventions, and discoveries of State-funded stem cell research; and 

(ii) to the extent consistent with federal and State law, reflects the intellectual property policies of the institution. 

(b)  Limitation.- A recipient shall submit the approval required under subsection (a)(1) of this section within 6 months after the award of the grant or loan. 

(c)  Conditions precedent to disbursement.- The Corporation may not disburse grant or loan money to a recipient until: 

(1) the recipient has obtained the approval required under subsection (a)(1) of this section; and 

(2) the recipient and the Corporation have entered into the memorandum of understanding required under subsection (a)(2) of this section. 
 

[An. Code 1957, art. 83A, § 5-2B-08; 2008, ch. 306, § 2.]