Texas Education Code

§ 153.006 — SUPPORT OF CENTERS

ED § 153.006Title 3. HIGHER EDUCATION · Part H. RESEARCH IN HIGHER EDUCATION · Ch. 153. CENTERS FOR TECHNOLOGY DEVELOPMENT AND TRANSFER

Statute text

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(a)In order to carry out the purposes of this chapter and to support the activities of centers described in this chapter, to the extent authorized by its governing board, an institution of higher education may:

(1)enter into agreements establishing royalties, fees, and other consideration for technology developed in whole or part by the institution;

(2)accept equity interests in, convertible promissory debt instruments issued by, or a combination of equity interests in and convertible promissory debt instruments issued by organizations that license, manage, or otherwise administer rights to technology belonging to the institution or under its control in exchange for such rights, in whole or in part;

(3)accept equity interests in, convertible promissory debt instruments issued by, or a combination of equity interests in and convertible promissory debt instruments issued by organizations that license or otherwise have rights in the institution's technology as consideration for its providing monetary, business, scientific, or engineering services or technical assistance;

(4)use income from the commercialization of technology to fund the activities of the center;

(5)solicit, accept, and administer gifts, grants, and donations;

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Legislative history

Acts 2013, 83rd Leg., R.S., Ch. 338 (H.B. 2051), Sec. 1, eff. June 14, 2013.