(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
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