§ 10-435. Grant and loan conditions

   (a) In general. -- 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) Limitation. -- 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) Conditions precedent to disbursement. -- 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.

HISTORY: An. Code 1957, art. 83A, § 5-2B-08; 2008, ch. 306, § 2.