Okla. Stat. tit. 74, § 74-5060.20a
This is the official text of Okla. Stat. tit. 74, § 74-5060.20a, part of Oklahoma’s Stat. tit. 74, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 74,." Browse the sections below, each linked to its official government source.
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Technology business financing program -
Official statutory text
Specifications.
The Oklahoma Center for the Advancement of Science and
Technology (OCAST), in conjunction with the Commercialization
Center, may develop and implement a technology business financing
program to provide funding and financing for and to assist qualified
Oklahoma enterprises to commercialize new products, services,
technology, innovations, and processes. In order to obtain funding
or financing from the technology business financing program, a
recipient shall be required to obtain separate private investment or
funding, and may also be required to pay royalties, fees, interest,
profits, or other payments generated or arising from the sale,
lease, licensing, distribution, manufacture, marketing, or
development of products, services, technology, innovations, and
processes, whether alone or in conjunction with others, or generated
or arising from a sale, acquisition, merger, or other transfer or
takeover of the enterprise. Any such royalties, fees, interest,
profits, or other payments or return of funding and financing shall
be retained for use in the program. OCAST, in conjunction with the
Commercialization Center, shall establish program specifications.
OCAST may contract with the Commercialization Center or other
qualified entity to operate and manage the program. Program funds
shall not be used to pay administrative, management, or operating
expenses of OCAST.
Oklahoma Statutes - Title 74. State Government Page 1088
The Oklahoma Center for the Advancement of Science and
Technology (OCAST), in conjunction with the Commercialization
Center, may develop and implement a technology business financing
program to provide funding and financing for and to assist qualified
Oklahoma enterprises to commercialize new products, services,
technology, innovations, and processes. In order to obtain funding
or financing from the technology business financing program, a
recipient shall be required to obtain separate private investment or
funding, and may also be required to pay royalties, fees, interest,
profits, or other payments generated or arising from the sale,
lease, licensing, distribution, manufacture, marketing, or
development of products, services, technology, innovations, and
processes, whether alone or in conjunction with others, or generated
or arising from a sale, acquisition, merger, or other transfer or
takeover of the enterprise. Any such royalties, fees, interest,
profits, or other payments or return of funding and financing shall
be retained for use in the program. OCAST, in conjunction with the
Commercialization Center, shall establish program specifications.
OCAST may contract with the Commercialization Center or other
qualified entity to operate and manage the program. Program funds
shall not be used to pay administrative, management, or operating
expenses of OCAST.
Oklahoma Statutes - Title 74. State Government Page 1088
Status: in_force · Read it on the official government site
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