(1) There is created the Oregon Commercialized Research Fund Advisory Council consisting of nine members appointed by the Oregon Innovation Council. The members shall represent private equity investment firms, Oregon traded sector industries and research institutions.
(2) The advisory council shall:
(a) Advise the Oregon Innovation Council about investment criteria for the Oregon Commercialized Research Fund;
(b) Recommend projects to the Oregon Innovation Council that may be eligible for grants or loans from the fund;
(c) Review the performance of projects that are funded by grants or loans from the fund; and
(d) Review the performance of the fund.
(3) A majority of the members of the advisory council constitutes a quorum for the transaction of business.
(4) Official action by the advisory council requires the approval of a majority of the members of the advisory council.
(5) The advisory council shall elect one of its members to serve as chairperson.
(6) If there is a vacancy for any cause, the Oregon Innovation Council shall make an appointment to become immediately effective.
(7) The advisory council shall meet at times and places specified by the call of the chairperson or of a majority of the members of the advisory council.
(8) The Oregon Innovation Council shall provide staff support to the advisory council.
(9) Members of the advisory council are not entitled to compensation, but may be reimbursed for actual and necessary travel and other expenses incurred by them in the performance of their official duties in the manner and amounts provided for in ORS 292.495. Claims for expenses shall be paid out of funds appropriated to the Oregon Innovation Council for that purpose.
(10) All agencies of state government, as defined in ORS 174.111, are directed to assist the advisory council in the performance of its duties and, to the extent permitted by laws relating to confidentiality, to furnish such information and advice as the members of the advisory council consider necessary to perform their duties. [2005 c.748 §10]Section: Previous 284.705 284.706 284.710 284.711 284.715 284.720 284.725 284.730 284.735 284.740 284.750 284.755 284.760 284.765 284.770 Next
Last modified: August 7, 2008