265-e. Public and financial accountability standards. 1. Report. The board shall issue an annual report to the public, which sets forth its activities, grants awarded, grants in progress, research accomplishments, and future program directions. Each annual report shall include, but not be limited to the following:
(a) number and dollar amounts of research and facilities grants;
(b) grantees for the prior year;
(c) board's administrative expenses;
(d) summary of research findings, including promising new research areas; and
(e) strategic plan of the board.
2. Conflicts of interest. No employee of the board or member of the funding or ethics committees shall make, participate in making, or in any way attempt to use his or her position to influence a decision to approve or award a grant, loan, or contract to:
(a) his or her employer or relative, or any entity in which the employee, member of the board, or member of the advisory counsel or the relative of any such individual has a financial interest; or
(b) an organization in which such employee, member of the board, member of the advisory counsel, or any relative of any such individual is an officer, director or partner of such organization.
3. Patent royalties and license revenues. The board shall establish standards that require that all grants be subject to intellectual property agreements that establish the scope, if any, of the state's ownership or other financial interest in the commercialization and other benefits of the results, products, inventions and discoveries of state-funded stem cell research, and shall also include consideration in such agreement for amounts of funding from sources other than the state.
4. Contributions to the board. Notwithstanding any other provisions of the law to the contrary, the board is authorized to receive contributions from any governmental entity, for profit and not-for-profit corporation, association or person.
Last modified: February 3, 2019