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Maryland Code, Economic Development § 10-435

Current as of December 31, 2021 | Updated by FindLaw Staff

(a) A grant or loan awarded under this part is contingent on the recipient:

(1) submitting to the Commission approval from an institutional review board; and

(2) entering into a memorandum of understanding with the Corporation that:

(i) establishes the scope of the State's ownership or other financial interest in the commercialization and other benefits of the results, products, inventions, and discoveries of State-funded stem cell research; and

(ii) to the extent consistent with federal and State law, reflects the intellectual property policies of the institution.

(b) A recipient shall submit the approval required under subsection (a)(1) of this section within 6 months after the award of the grant or loan.

(c) The Corporation may not disburse grant or loan money to a recipient until:

(1) the recipient has obtained the approval required under subsection (a)(1) of this section; and

(2) the recipient and the Corporation have entered into the memorandum of understanding required under subsection (a)(2) of this section.

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Cite this article: FindLaw.com - Maryland Code, Economic Development § 10-435 - last updated December 31, 2021 | https://codes.findlaw.com/md/economic-development/md-code-econ-dev-sect-10-435/

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