348.251. Definitions--Missouri technology corporation may be established--corporation, defined--public hearing, notice. - Missouri Statutes

Definitions--Missouri technology corporation may beestablished--corporation, defined--public hearing, notice.

348.251. 1. As used in sections 348.251 to 348.266, the following termsmean:

(1) "Technology application", the introduction and adaptation of refinedmanagement practices in fields such as scheduling, inventory management,marketing, product development, and training in order to improve the quality,productivity and profitability of an existing firm. Technology applicationshall be considered a component of business modernization;

(2) "Technology commercialization", the process of movinginvestment-grade technology from a business, university or laboratory into themarketplace for application;

(3) "Technology development", strategically focused research directed atdeveloping investment-grade technologies which are important for marketcompetitiveness.

2. The governor may, on behalf of the state and in accordance withchapter 355, RSMo, establish a private not-for-profit corporation named the"Missouri Technology Corporation", to carry out the provisions of sections348.251 to 348.266. As used in sections 348.251 to 348.266 the word"corporation" means the Missouri technology corporation authorized by thissection. Before certification by the governor, the corporation shall conducta public hearing for the purpose of giving all interested parties anopportunity to review and comment upon the articles of incorporation, bylawsand method of operation of the corporation. Notice of the hearing shall begiven at least fourteen days prior to the hearing.

(L. 1993 H.B. 566, A.L. 1994 H.B. 1248 & 1048)