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Missouri Revised Statutes Title XXIII. Corporations, Associations and Partnerships § 348.253. Contracts with not-for-profit organizations, objectives

Current as of January 01, 2025 | Updated by Findlaw Staff

<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 S.B. 7, First Extraordinary Session of the 96th General Assembly, 2011, repealed this section.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, rendering the repeal of this section ineffective.>

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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Cite this article: FindLaw.com - Missouri Revised Statutes Title XXIII. Corporations, Associations and Partnerships § 348.253. Contracts with not-for-profit organizations, objectives - last updated January 01, 2025 | https://codes.findlaw.com/mo/title-xxiii-corporations-associations-and-partnerships/mo-rev-st-348-253/

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