53B-17-503 - Administration through nonprofit corporations or foundations -- Control -- Authority of corporations or foundations -- Personnel considered employees of university. - Utah Statutes

53B-17-503. Administration through nonprofit corporations or foundations --Control -- Authority of corporations or foundations -- Personnel considered employees ofuniversity.
(1) The University of Utah may establish, develop, and administer through nonprofitcorporations or foundations controlled by the president and the State Board of Regents a researchpark upon the land acquired by the university under the patent.
(2) The nonprofit corporations or foundations may receive and administer legislativeappropriations, government grants, contracts, and private gifts to carry out their public purposes.
(3) All salaried employees, agents, officers, faculty, and staff of the nonprofit corporationor foundation are for the purpose of employee benefits, employees, agents, officers, faculty, andstaff of the University of Utah.

Enacted by Chapter 167, 1987 General Session