ORS 350.545
University venture development funds
- use
- fee
(1)
Notwithstanding ORS 350.550 (Purposes of funds) (5), the State Treasurer, as payment for expenses, may deduct a fee pursuant to ORS 293.718 (Payment of expenses of State Treasurer) from a university venture development fund administered by a public university listed in ORS 352.002 (Public universities) or the Oregon Health and Science University.(2)
A public university listed in ORS 352.002 (Public universities) or the Oregon Health and Science University may direct that moneys credited to its university venture development fund be held and invested by the university’s affiliated foundation. Any moneys held by an affiliated foundation under this section or ORS 350.550 (Purposes of funds) are not subject to the provisions of ORS chapter 293 or 295 and may not be considered public or state funds for any purpose. Moneys transferred to an affiliated foundation under this section or ORS 350.550 (Purposes of funds) may be used only as provided under ORS 350.540 (Venture grant program), 350.545 (University venture development funds), 350.550 (Purposes of funds) and 353.445 (Venture grant program).(3)
A public university listed in ORS 352.002 (Public universities) or the Oregon Health and Science University may retain or may elect to have its affiliated foundation retain some or all of the principal contributed to a university venture development fund for investment to perpetuate and increase the moneys available for expenditure. The balance of the fund and the earnings on that balance may be used as provided under ORS 350.540 (Venture grant program), 350.545 (University venture development funds), 350.550 (Purposes of funds) and 353.445 (Venture grant program). [Formerly 351.695]
Source:
Section 350.545 — University venture development funds; use; fee, https://www.oregonlegislature.gov/bills_laws/ors/ors350.html
.