- (1) An institution of higher education described in Section 53H-1-102 may form a non-profit corporation or foundation to aid or assist the institution of higher education, within the institution of higher education's mission and role described in Section 53H-3-602, in meeting the institution of higher education's charitable, scientific, literary, research, educational, or other objectives.
- (2) The board and the president of the institution of higher education control a nonprofit corporation or foundation described in Subsection (1).
(3) A nonprofit corporation or foundation described in Subsection (1) may receive and administer:
- (a) legislative appropriations;
- (b) government grants;
- (c) private contracts; or
- (d) private gifts.
Renumbered and Amended by Chapter 8, 2025 Special Session 1