[§304A-3003]  Powers of the researchcorporation.  The research corporation, under the direction of the board ofdirectors, shall have the following general powers:

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

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

(3)  To enter into and perform such contracts, leases,cooperative agreements, or other transactions with the university or any otheragency or political subdivision of the State, any private person, firm,partnership, association, company, or corporation, only as it may be necessaryin the conduct of its business and on such terms as it may deem appropriate;provided that the research corporation shall not obligate any funds of theState except those that have been appropriated to it.  Notwithstanding theforegoing, the research corporation may enter into and perform such contracts,leases, cooperative agreements, or other transactions with any agency orinstrumentality of the United States, a foreign nation, a state, a territory,or a possession, or with any political subdivision thereof, whenever thedonating or granting agency or instrumentality determines that the universityor any other agency of the State cannot as effectively and efficientlyaccomplish the purposes for which such contracts, leases, cooperativeagreements, or other transactions are being entered into; provided that theresearch corporation shall not obligate any funds of the State except thosethat have been appropriated to 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 conditionsunder which it was received; except that no gift to the research corporationshall be accepted unless approved or confirmed by the board of directors. Notwithstanding the foregoing, the research corporation may receive gifts,grants, or awards from any agency or instrumentality of the United States, aforeign nation, a state, a territory, or a possession, or from any politicalsubdivision thereof, whenever the donating or granting agency orinstrumentality determines that the university or any other agency of the Statecannot as effectively and efficiently accomplish the purposes for which thegifts, grants, or awards are being made, except that no gift to the researchcorporation shall be accepted unless approved or confirmed by the board ofdirectors;

(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 ofany gift, indenture, or will;

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

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

(10)  To coordinate and correlate activities andprojects of the research corporation with the work of state agencies for thepurpose of relating research work to the economic development of the Statewhenever practical or desirable;

(11)  To stimulate and promote cooperative researchprojects and activities;

(12)  To establish and maintain, or to assist inestablishing and maintaining, scholarships, fellowships, and professorships, andother staff positions for the purpose of aiding in the acquisition anddissemination of knowledge and to enter into agreements or contracts with othercorporations, organizations, institutions, or persons for this purpose and topay the necessary and appropriate expenses therefor;

(13)  To prepare, print, or publish any manuscript,research article, report, study, discussion, reference, collection, or anypictorial or schematic representation or group or collection thereof, whetherit belongs to or is the work of any state agency or its employees, or theuniversity or one of its faculty members or employees, or the researchcorporation or its employees, or a contractor of the research corporation.  Theprinting or publication may be accomplished through whatever person, company,or agency is deemed most appropriate by the board of directors; and

(14)  To do any or all other acts reasonably necessaryto carry out the objects and purposes of the research corporation and theuniversity. [L 2006, c 75, pt of §2]