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

Enacted by Chapter 167, 1987 General Session
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Last revised: Wednesday, July 23, 2008