*348.253.

273 words·~1 min read·/mo/chapter-348/348-253

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

*348.253. Contracts with not-for-profit organizations, objectives. — 1. The Missouri technology corporation may contract with not-for-profit organizations to carry out the provisions of sections 348.251 to 348.275 . By entering into such contracts, the corporation shall attempt to achieve the following objectives:

(1)The establishment of a research alliance which shall advance technology development, as defined in subdivision

(3)of section 348.251 . The corporation, in this capacity, shall have the authority to contract directly with centers for advanced technology, as established by section 348.272 , and other not-for-profit entities. In proceeding with this objective, the corporation and centers for advanced technology shall utilize the results of targeted industry studies commissioned by the department of economic development;

(2)Technology commercialization, as defined in subdivision

(2)of section 348.251 ;

(3)The establishment of a finance corporation to assist in the implementation of section 348.261 ; and

(4)The enhancement of technology application, as defined in subdivision

(1)of section 348.251 .

2. Any contract signed between the corporation and any not-for-profit organization, including innovation centers as defined in section 348.271 , shall require that the not-for-profit organization must provide at least one-hundred-percent match for any funding received from the corporation through the technology investment fund, as established in section 348.264 .

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(L. 1995 H.B. 414)

*Revisor's Note: This section is reprinted in accordance with section 3.066. S.B. 7, First Extraordinary Session of the 96th General Assembly, 2011, repealed this section. S.B. 7 was declared unconstitutional as a violation of the single subject requirement of Article III, Section 23, of the Missouri Constitution (see annotation above), rendering the repeal of this section ineffective.