C.R.S. Section 23-5-121
Governing boards

  • authority to establish nonprofit corporations for developing discoveries and technology

(1)

The general assembly recognizes that the transfer of newly created technologies from university research to the private sector and the resulting potential creation and expansion of Colorado companies are essential to the economic growth of this state, promote the public good, and should be encouraged. The general assembly further recognizes that a valid public purpose will be furthered and a commitment to the economic growth of this state demonstrated by empowering the governing boards of the state-supported institutions of higher education and the Colorado commission on higher education, referred to in this section as the “commission”, to establish nonprofit corporations to effect such a transfer and development and by empowering the governing boards of the state-supported institutions of higher education to cooperate with the private sector.

(2)

The governing board of any state-supported institution of higher education or the commission may incorporate one or more private nonprofit corporations under articles 121 to 137 of title 7, C.R.S., for the purpose of developing discoveries and technology resulting from science and technology research at such state-supported institution of higher education. Such a corporation shall have all rights and powers of a private nonprofit corporation organized under the laws of this state and shall not be an agency of state government or a department or political subdivision thereof and shall not be subject to any provisions of law affecting only governmental or public entities; except that provisions as provided for in section 23-1-108 (1)(f) regarding affirmative action shall be followed.

(3)

The governing board of any state-supported institution of higher education or the commission may transfer to a corporation incorporated pursuant to subsection (2) of this section all rights to discoveries and technologies resulting from science and technology research at such state-supported institution of higher education. Such transfer may be made in consideration of the corporation’s undertaking to develop the technology for the benefit of the state-supported institution of higher education and the state. Any such rights to discoveries and technologies that are transferred to the corporation by a governing board or by the commission shall not be further transferred by the corporation without adequate consideration being received therefor.

(4)

Prior to the transfer to a corporation incorporated pursuant to subsection (2) of this section of all rights to discoveries and technologies resulting from science and technology research at any state-supported institution of higher education, the governing board of such state-supported institution of higher education or the commission shall enter into an agreement with said corporation that shall include the terms of financial remuneration due the institution or the commission.

(5)

As a means of carrying out the purposes stated in this section, the governing board of any state-supported institution of higher education or the commission may, through one or more corporations incorporated pursuant to subsection (2) of this section:

(a)

Own and license rights to products, technology, and scientific information;

(b)

Own shares in corporations engaged in the development, manufacture, or marketing of products, technology, or scientific information under a license from the governing board or the commission or a corporation incorporated pursuant to subsection (2) of this section;

(c)

Participate as the general partner or as a limited partner, either directly or through a subsidiary corporation formed for that purpose, in limited partnerships, general partnerships, or joint ventures engaged in the development, manufacture, or marketing of products, technology, or scientific information under a license from the board or the commission or a corporation incorporated pursuant to subsection (2) of this section; except that the governing board shall be subject to the provisions of section 24-113-104, C.R.S., regarding competition with private enterprise by institutions of higher education;

(d)

Develop economic incentives for faculty members and other employees of the state-supported institution of higher education or the commission in order to encourage development of technology, which may include assignment of a share of the royalty payments, payment of supplemental compensation, or such other economic incentives as will in the judgment of the governing board or the commission best promote the purposes of this section;

(e)

In the case of a governing board of a state-supported institution of higher education, cooperate with the commission and the office of information technology created in the office of the governor in technology transfers pursuant to section 23-1-106.7;

(e.5)

In the case of the commission, accept donations, income or other revenues and make grants to support commission programs; and

(f)

Carry on such other activities as the governing board or the commission may deem appropriate for achieving the purposes of this section.

(6)

At the discretion of the governing board of the state-supported institution of higher education, research facilities and personnel at their own institutions or campuses may be utilized to achieve the purposes of this section.

(7)

The state of Colorado or state-supported institution or the commission shall not be held responsible for any debt or liability incurred by the corporation created pursuant to subsection (2) of this section.

Source: Section 23-5-121 — Governing boards - authority to establish nonprofit corporations for developing discoveries and technology, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-23.­pdf (accessed Oct. 20, 2023).

23‑5‑101.5
Enterprise status of auxiliary facilities - definitions 23‑5‑101.7
Enterprise status of institutions of higher education 23‑5‑102
Funding for auxiliary facilities - institutions of higher education - loans - bonds 23‑5‑103
Pledge of income 23‑5‑104
No property lien 23‑5‑105
Tax exemption 23‑5‑105.5
State board for community colleges and occupational education - authority to create financial obligations 23‑5‑106
Authority of governing boards - general - health-care insurance - contracts of indemnity 23‑5‑106.5
Authority of governing boards - student applications - criminal and disciplinary history inquiry - exceptions - definitions 23‑5‑107
Authority of governing boards - parking 23‑5‑108
Governing boards authorized to cede jurisdiction for enforcement of traffic laws 23‑5‑109
Identification - suicide and crisis prevention - rules 23‑5‑110
Medical personnel 23‑5‑112
Gifts and bequests to institutions of higher education - venture development investment funds 23‑5‑113
Collection of loans and outstanding obligations - state educational institutions 23‑5‑113.5
Prohibition on withholding transcripts and diplomas - postsecondary institution - remedy - definitions 23‑5‑114
National direct student loans - authority to separately collect advances 23‑5‑115
Loans or outstanding obligations offset 23‑5‑116
Governing boards - authority to provide out-of-state courses 23‑5‑117
Governing boards - delegation of personnel power 23‑5‑118
Selective service registration information 23‑5‑119.5
Student fees - legislative declaration - definitions - institutional plans - fee information - reporting 23‑5‑120
Student fees - deposit - interest 23‑5‑121
Governing boards - authority to establish nonprofit corporations for developing discoveries and technology 23‑5‑122
Intrainstitutional and intrasystem transfers - course scheduling 23‑5‑123
Sabbatical leave - policy - production of records - legislative declaration - definition 23‑5‑124
Student enrollment - prohibition - public peace and order convictions - definitions 23‑5‑125
Campus sex offender information 23‑5‑126
Governing boards - anti-terrorism measures 23‑5‑127
Unique student identifying number - social security number - prohibition 23‑5‑128
Meningococcal disease - information - immunity - definitions 23‑5‑131
Governing boards - tuition - fixed rate contract - definitions 23‑5‑132
Governing boards - travel policies - exemption from state travel rules 23‑5‑134
Appointments to governing boards - considerations 23‑5‑136
Governing boards - online textbook program 23‑5‑137
Loan repayment assistance - legislative declaration - definitions 23‑5‑138
Textbooks - academic freedom - definitions 23‑5‑139
Higher education revenue bond intercept program - definitions 23‑5‑140
Lifesaving school safety information - legislative declaration - definitions 23‑5‑140.5
Employee information - student loan repayment and forgiveness programs 23‑5‑140.7
Calculation of full-time employment of teachers for purposes of the federal public loan forgiveness program - definitions 23‑5‑141
Campus police information sharing - legislative declaration - definitions 23‑5‑142
Institution law enforcement agencies to provide identification cards to retired peace officers upon request - definitions 23‑5‑143
Sexual assault victim care - memorandum of understanding - training - definitions 23‑5‑144
Students’ right to speak in a public forum - legislative declaration - violations - court actions - free speech zones - definitions 23‑5‑145
Credit for military education and training - policy - definition 23‑5‑145.5
Credit for work-related experience - plan - report - definitions - repeal 23‑5‑145.6
Opportunities for credential attainment - fund - report - definitions - repeal 23‑5‑145.7
Funding for nondegree credential programs - duty - policy - appropriation - report - definitions - repeal 23‑5‑146
Sexual misconduct - policies - confidential resources - training - reports - definitions 23‑5‑147
Sexual misconduct advisory committee - membership - duties - report - legislative declaration - definitions 23‑5‑148
Dental therapy training programs - authorization to grant advanced standing - definition 23‑5‑149
Epinephrine auto-injectors at institutions of higher education - immunity - short title
Green check means up to date. Up to date

Current through Fall 2024

§ 23-5-121’s source at colorado​.gov