(1) A university within the Oregon University System may deposit moneys received for its university venture development fund in the Higher Education Donation Fund established under ORS 351.130.
(2) Notwithstanding ORS 351.697 (5), the State Treasurer, as payment for expenses, may deduct a fee pursuant to ORS 293.718 from a university venture development fund administered by a university within the Oregon University System or the Oregon Health and Science University.
(3) A university within the Oregon University System or the Oregon Health and Science University may direct that moneys credited to its university venture development fund be held and invested by the university’s affiliated foundation. Any moneys held by an affiliated foundation under this section or ORS 351.697 are not subject to the provisions of ORS chapter 293 or 295 and may not be considered public or state funds for any purpose. Moneys transferred to an affiliated foundation under this section or ORS 351.697 may be used only as provided under ORS 351.692, 351.695, 351.697 and 353.445.
(4) At the request of a university within the Oregon University System, moneys in the Higher Education Donation Fund that were deposited by the university under this section may be transferred to the university’s affiliated foundation.
(5) A university within the Oregon University System or the Oregon Health and Science University may retain or may elect to have its affiliated foundation retain some or all of the principal contributed to a university venture development fund for investment to perpetuate and increase the moneys available for expenditure. The balance of the fund and the earnings on that balance may be used as provided under ORS 351.692, 351.695, 351.697 and 353.445. [2005 c.592 §7; 2007 c.586 §4]
Note: See note under 351.692.
Section: Previous 351.680 351.683 351.686 351.689 351.690 351.691 351.692 351.695 351.697 351.710 351.720 351.730 351.740 351.750 351.760 NextLast modified: August 7, 2008