Pecan research. (a) The fund now existing in the State Treasury and known as the Oklahoma State University of Agriculture and Applied Science, Agricultural Research Greenhouse Fund shall continue in operation with the same name. Said fund shall continue to consist of all revenues, gifts, donations and endowments accruing to the credit of Oklahoma State University of Agriculture and Applied Science from the wheat and small grains industry or other private endowments. Revenue deposited in said fund is hereby appropriated and the fund shall be of a continuing nature and not subject to fiscal year limitations. (b) It is the intent of the Legislature that the fund specified in this section shall be used by Oklahoma State University of Agriculture and Applied Science for the payment of all necessary expenses including personal services, purchase of equipment and other capital outlay necessary in sponsoring, erecting, constructing and maintaining an agricultural research greenhouse on the farm of the Oklahoma State University of Agriculture and Applied Science. (c) Upon certification by the director of said agricultural experiment station that Fifty Thousand Dollars ($50,000.00) has been made available by the wheat and small grains industry of Oklahoma or by private endowment, the State Budget Director is hereby authorized to cause to be made a transfer of funds from the General Revenue Fund to the Oklahoma State University Agricultural Research Greenhouse Fund created by Section 415(a) of this act. (d) The fund previously created for the use of the Oklahoma Agricultural Research Station and known as the Oklahoma Agricultural Products Research Fund shall continue in operation and shall consist of any monies appropriated by the Legislature and any funds received by gift or from the federal government to be used for the purpose specified herein. The proceeds of the fund authorized to be appropriated by the provisions of this act, and any funds received by gift or from the federal government to be used for the purpose provided in this section shall be expended by the Oklahoma State University Agricultural Experiment Station for research and development of new, additional, and improved uses for agricultural products. The experiment station shall have power and authority, within the limits of the funds available to it, to coordinate and expedite activities toward research. The Director of the Oklahoma Agricultural Experiment Station is hereby authorized and empowered to acquire title on behalf of the State of Oklahoma to any patent or patents resulting from research projects conducted with funds of the Oklahoma Agricultural Products Research Fund, as herein provided. The Director of the Oklahoma Agricultural Experiment Station, with the approval of the Governor, is hereby authorized and empowered to grant licenses or otherwise dispose of any patents resulting from research conducted with funds of the Oklahoma Agricultural Products Research Fund on a basis deemed by him to be most favorable to the State of Oklahoma. Any royalties or other income derived from the licensing, sale, or use of any patent or patents resulting from research projects conducted with funds of the Oklahoma Agricultural Products Research Fund shall be paid into the Oklahoma Agricultural Products Research Fund to be used for the purposes of the Oklahoma Agricultural Products Research Fund. (e) The pecan experiment station previously established in Lincoln County, Oklahoma, shall continue in operation and be known by the same name. It shall be devoted to the improvement of the grade and amount of production of pecans in Oklahoma. Said experiment station shall continue to be operated under the direction and supervision of the Oklahoma State University of Agriculture and Applied Science. Authorization is granted to the Board of Regents for the Oklahoma Agricultural and Mechanical Colleges for the acquisition or improvement of lands, or the acquisition of any other property necessary for the station.
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