California Public Resources Code

§ 3810

PRC § 3810 Effective Jan 1, 1995Div. 3 · Ch. 6 · Art. 2

Statute text

(a)(1) “Award repayment or program reimbursement agreement,” including a “royalty agreement,” as specified in subdivision (b), means a method used at the discretion of the commission to determine and establish the terms of replenishment of program funds, including, at a minimum, repayment of the award to provide for further awards under this chapter. The award repayment or program reimbursement agreement may provide that payments be made to the commission when the award recipient, affiliate of the award recipient, or third party receives, through any kind of transaction, an economic benefit from the project, invention, or product developed, made possible, or derived, in whole or in part, as a result of the award.

(2)An award repayment or program reimbursement agreement shall specify the method to be used by the commission to determine and establish the terms of repayment and reimbursement of the award.

(3)The commission may require due diligence of the award recipient and may take any action that is necessary to bring the project, invention, or product to market.

…

Legislative history

Added by Stats. 1994, Ch. 553, Sec. 2. Effective January 1, 1995.