§206M-53  Powers of the board.  [Repeal
and reenactment on June 30, 2011.  L 2006, c 282, §7.]  The high technology
innovation corporation, under the direction of its board of directors, shall
have the following general powers:



(1)  To adopt, amend, and repeal bylaws governing the
conduct of its business and the exercise of the powers and performance of
duties granted to or imposed upon it by law;



(2)  To sell, lease, rent, hold, maintain, use, and
operate any property, real, personal, or mixed, tangible or intangible, in
accordance with the conditions under which it was received;



(3)  To enter into and perform contracts, leases,
cooperative agreements, or other transactions with the high technology
development corporation or any other agency or political subdivision of the
State, any private person, firm, partnership, association, company, or
corporation, only as it may be necessary in the conduct of its business and on
terms as it may deem appropriate; provided that the high technology innovation
corporation shall not obligate any funds of the State except funds that have
been appropriated to it by the legislature or transferred or contracted to it
by the high technology development corporation or other agency or department of
the state government.  Notwithstanding the foregoing, the high technology
innovation corporation may enter into and perform contracts, leases,
cooperative agreements, or other transactions with any agency or
instrumentality of the United States, a foreign nation, a state, a territory or
a possession, or with any political subdivision thereof, whenever the donating
or granting agency or instrumentality determines that the high technology
development corporation or any other agency of the State cannot as effectively
and efficiently accomplish the purposes for which the contracts, leases,
cooperative agreements, or other transactions are being entered into; provided
that the high technology innovation corporation shall not obligate any funds of
the State except funds that have been appropriated or transferred to it or
contracted for it;



(4)  To receive by gifts, grants, devises, bequests,
or otherwise, from private sources only, any property, real, personal, or
mixed, intangible or tangible, absolutely or in trust, to be used and disposed
of, either the principal or the income therefrom, in accordance with the
conditions under which it was received; provided that no gift to the high
technology innovation corporation shall be accepted unless approved or
confirmed by its board of directors.  Notwithstanding the foregoing, the high
technology innovation corporation may receive gifts, grants, or awards from any
agency or instrumentality of the United States, a foreign nation, a state, a
territory or a possession, or from any political subdivision thereof, whenever
the donating or granting agency or instrumentality determines that the high
technology development corporation or any other agency of the State cannot as
effectively and efficiently accomplish the purposes for which the gifts,
grants, or awards are being made; provided that no gift to the high technology
innovation corporation shall be accepted unless approved or confirmed by its
board of directors;



(5)  To have a corporate seal;



(6)  To sue and be sued in its own name;



(7)  To serve as trustee or beneficiary under terms of
any gift, indenture, or will;



(8)  To apply for, take out, receive by purchase or
gift, hold, administer, and dispose of copyrights, patent rights, licenses,
assignments of inventions, discoveries, processes, and other property, rights
or interests therein, and the income thereof, absolutely or subject to
conditions or trusts as may be attached thereto or be imposed thereon, and to
obligate itself to perform and execute any and all conditions or trusts;



(9)  To conduct programs, projects, research, studies,
experiments, investigations, and tests in all fields of knowledge; to promote
and develop the scientific and commercial value of inventions, discoveries, and
processes; and to make, publish, and distribute the results thereof;



(10)  To coordinate and correlate activities and
projects of the high technology innovation corporation with the work of state
agencies for the purpose of relating research work to the economic development
of the State whenever practical or desirable;



(11)  To stimulate and promote cooperative research
projects and activities;



(12)  To establish and maintain, or to assist in
establishing and maintaining staff positions for the purpose of aiding in
technology-based economic development, and to enter into agreements or
contracts with other corporations, organizations, institutions, or persons for
this purpose and to pay the necessary and appropriate expenses therefor;



(13)  To prepare, print, or publish any manuscript,
research article, report, study, discussion, reference, collection, or any
pictorial or schematic representation or group or collection thereof, whether
the same belongs to or is the work of any state agency or its employees, or the
high technology innovation corporation or its employees or a contractor of the
high technology innovation corporation.  The printing or publication may be
accomplished through whatever person, company, or agency is deemed most
appropriate by the board of directors;



(14)  To establish operational bank accounts as may be
necessary in the conduct of its business and its out-of-state offices,
including accounts in in‑state and out-of-state locations and accounts of
foreign denomination in out-of-state locations, without the approval of the
director of budget and finance or the comptroller of accounting and general
services; and



(15)  To do any or all other acts reasonably necessary
to carry out the objects and purposes of the high technology innovation
corporation. [L 2005, c 173, pt of §1; am L 2006, c 282, §3; am L 2007, c 195,
§1]