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Arkansas Code Title 6. Education § 6-60-1204. Foreign gifts and contracts--Acceptance and disclosure

Current as of March 28, 2024 | Updated by Findlaw Staff

(a) An institution shall not accept a gift from a foreign source or enter into a contract with a foreign source if the institution believes that doing so would threaten:

(1) The integrity of the institution's research, instruction, or operations;

(2) The institution's intellectual property rights;

(3) The protection of confidential information; or

(4) The safety and security of:

(A) The institution;

(B) The institution's personnel and students;

(C) This state; or

(D) The United States.

(b) If an institution receives a gift from a foreign source valued at more than two hundred fifty thousand dollars ($250,000), the institution shall disclose the following information without limitation with respect to the gift:

(1) The dollar value of the gift;

(2) The name and national affiliation of the foreign source funding the gift;

(3) The department, college, school, or other business unit of the institution to which the gift was made;

(4) The date the gift was received; and

(5) A brief description of the gift.

(c) If an institution enters into a contract with a foreign source valued at more than two hundred fifty thousand dollars ($250,000), the institution shall disclose the following information without limitation with respect to the contract:

(1) The dollar value of the contract;

(2) The name and national affiliation of the foreign source entering into the contract with the institution;

(3) The department, college, school, or other business unit of the institution that benefits from the contract;

(4) The effective date and termination date of the contract; and

(5) A brief description of the terms of the contract.

(d) If an institution receives multiple gifts from foreign sources affiliated with the same foreign government and each of the gifts is valued at two hundred fifty thousand dollars ($250,000) or less but the aggregate value of the gifts is more than two hundred fifty thousand dollars ($250,000), the institution shall disclose each of the gifts as required under subsection (b) of this section.

(e) If an institution enters into multiple contracts with foreign sources affiliated with the same foreign government and each of the contracts is valued at two hundred fifty thousand dollars ($250,000) or less but the aggregate value of the contracts is more than two hundred fifty thousand dollars ($250,000), the institution shall disclose each of the contracts as required under subsection (c) of this section.

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Cite this article: FindLaw.com - Arkansas Code Title 6. Education § 6-60-1204. Foreign gifts and contracts--Acceptance and disclosure - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-6-education/ar-code-sect-6-60-1204/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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