Okla. Stat. tit. 74, § 74-5060.9

Development Board - Tax exemptions - Administrative policies.

A. The Oklahoma Science and Technology Research and Development

Board shall have the power to:

Oklahoma Statutes - Title 74. State Government Page 1075

1. Make, amend and repeal bylaws for the management of the

Center;

2. Sue and be sued;

3. Make contracts and execute all instruments necessary or

convenient for carrying out the business of the Center;

4. Acquire, own, hold, dispose of and encumber real or personal

property of any nature, including tangible, intangible, commercial

or intellectual, or any interest therein;

5. Enter into agreements or other transactions with any

federal, state, county or municipal agency, authority or other

governmental entity and with any individual, corporation,

enterprise, association or any other entity involving research and

technology;

6. Acquire real property or an interest therein, by purchase or

foreclosure, where such acquisition is necessary or appropriate to

protect or secure any investment or loan in which the Center has an

interest;

7. Sell, transfer and convey any such property to a buyer, and

in the event such sale, transfer or conveyance cannot be effected

with reasonable promptness or at a reasonable price, to lease such

property to a tenant;

8. Invest any funds provided by the state and held in reserve

in funds not required for immediate disbursement and invest funds

received from gifts, grants, donations and other operations of the

Center in such investments as would be lawful for a private

corporation having purposes similar to the Center;

9. Borrow money and give guaranties, provided that the

indebtedness and other obligations of the Center shall be payable

solely out of the resources of the Center and shall not constitute a

pledge of the full faith and credit of the state or any of its

revenues;

10. Appoint officers, consultants, agents and advisors, and

prescribe their duties and compensation;

11. Appear on its own behalf or on behalf of the Center before

boards, commissions, departments or other agencies of municipal,

county or state government or federal government;

12. Procure insurance against any losses in connection with its

properties in such amounts from such insurers as may be necessary or

desirable;

13. Consent, subject to the provisions of any contract with

note-holders, whenever it considers it necessary or desirable in the

fulfillment of the goals and purposes of the Center, to the

modifications, with respect to the rate of interest, time payment or

of any installment, of principal and interest or any terms of any

contract or agreement of any kind to which the Center is a party;

14. Accept any and all donations, grants, bequests and devises,

conditional and otherwise, of money, property, services or other

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things of value which may be received from the United States or any

agency thereof, any governmental agency, or any institution, person,

firm or corporation, public or private, to be held, used or applied

for any or all of the goals and purposes of the Center, in

accordance with the terms and conditions of any such grant;

15. Trade, buy or sell qualified securities;

16. Own, possess and take license in, patents, copyrights and

proprietary processes and negotiate and enter into contracts and

establish charges for the use of such patents, copyrights and

proprietary processes when such patents and licenses for innovation

or inventions result from research sponsored by the Center in a

private enterprise or when the Center finances a product developed

by a private enterprise;

17. Establish policies governing royalty payments to the Center

on patents and licenses for innovations or inventions arising in the

course of research sponsored by the Center at institutions of higher

education and nonprofit research foundations; such royalty policies
rch sponsored by the Center in a

private enterprise or when the Center finances a product developed

by a private enterprise;

17. Establish policies governing royalty payments to the Center

on patents and licenses for innovations or inventions arising in the

course of research sponsored by the Center at institutions of higher

education and nonprofit research foundations; such royalty policies

should reflect an appropriate sharing of legal risk as well as

financial return between the Center and such institution or

foundation; such patents and licenses shall be in keeping with the

patent policies of such institutions or foundations;

18. Conduct studies which are related to economic development,

involving product or process innovations;

19. Solicit, study and assist in the preparation of business

plans and proposals of new or established enterprises of special

importance to the Oklahoma economy;

20. Prepare, publish and distribute such technological studies,

reports, bulletins and other materials as it considers appropriate,

subject only to the maintenance and responsibility for

confidentiality of the client proprietary information, and encourage

institutions of higher education to develop and disseminate similar

materials;

21. Sponsor, or co-sponsor with both private industry and

higher education institutions, special institutes, conferences and

demonstrations relating to the stimulation of innovation, science

and technologically oriented enterprises;

22. Participate with any state agency or institution of higher

education in developing specific goals, programs and performance

monitoring systems to assist in the development of basic research,

applied research and technology transfer of special importance to

the Oklahoma economy;

23. Provide scientific and technological data and information

required by the Governor, the Legislature, or its committees, and to

state agencies, institutions of higher education and cities, towns,

counties and school districts and to private citizens and groups,

within the limitations of the resources available to the Center;

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24. Provide training and practical experience for Oklahoma

researchers in the preparation of applications for peer-reviewed

grant competitions;

25. Facilitate public/private partnerships that will support

the creation of endowed chairs, scholarships, research grants, and

business opportunities;

26. Develop policies and procedures for partnering with and/or

between universities offering engineering or technology degrees in

Oklahoma to facilitate joint public/private technology research and

development projects using resources and facilities of such public

higher education institutions or private entities; provided that,

the Board shall utilize, and accord lead status to, Rogers State

University for coordinating and delivering higher education distance

learning opportunities initiated or developed by the Board;

27. Advertise for, accept, and fund proposals from

universities, private industries, towns, counties, municipalities,

and individuals to achieve its goals and purposes;

28. Collaborate with the various entities to develop

initiatives which foster economic development through technological

advancement;

29. Create institutes or centers with world-class research

teams that support the state's primary economic development thrusts;

and

30. Exercise any other powers necessary for the operation and

functioning of the Center within the purposes authorized in this

act.

B. The Center shall be exempt from all franchise, corporate

business and income taxes levied by the state. The manufacture or

sale of any products or processes which are the subject of any

agreement made by the Center, or any person entering into any

agreement with the Center shall not be exempt from any such taxes or

taxes applicable to such manufacture or sale.
ses authorized in this

act.

B. The Center shall be exempt from all franchise, corporate

business and income taxes levied by the state. The manufacture or

sale of any products or processes which are the subject of any

agreement made by the Center, or any person entering into any

agreement with the Center shall not be exempt from any such taxes or

taxes applicable to such manufacture or sale.

C. The Center shall include in the annual business plan

appropriate administrative policies, including but not limited to

policies governing the classification, employment, promotion,

suspension, disciplinary action or dismissal of Center employees,

purchasing, travel, and reimbursement of employees. All actions

governed by said administrative policies shall be examined annually

in the independent audit required by Section 5060.22 of this title.

The Center shall not be subject to state purchasing laws, except

with respect to purchases required for the administrative expenses

of the Board, or laws concerning travel or reimbursement of state

employees. Professional service contracts executed by the Center

shall not be subject to any requirement of law relating to

competitive bidding.

Because many of the powers and duties of the Center involve

working closely with the private sector, certain employee positions

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of the Center must be governed, classified and compensated in a

manner that compares equally to similar positions in the private

sector. Therefore, in the annual business plan, the Board shall

list, describe and justify all such positions and their compensation

and shall designate and place them in unclassified status, exempt

from the provisions of the Oklahoma Personnel Act. All other

employees and positions shall be classified and subject to the

provisions of the Merit System of Personnel Administration as

provided in the Oklahoma Personnel Act. Provided, nothing in this

section shall be construed to limit the authority of the Legislature

to specify the status of positions otherwise by law. Neither shall

the Board have the authority to circumvent, disregard or otherwise

disobey specific provisions of law regarding positions in the

Center.

D. Upon approval of the Board, the Center shall have the

authority to exercise the powers enumerated in subsection A of this

section.