ORS 351.695¹
University venture development funds
  • deposit
  • use
  • fee

(1) A university within the Oregon University System may deposit moneys received for its university venture development fund in the Higher Education Donation Fund established under ORS 351.130 (Encouragement of gifts to institutions).

(2) Notwithstanding ORS 351.697 (Purpose of funds) (5), the State Treasurer, as payment for expenses, may deduct a fee pursuant to ORS 293.718 (Payment of expenses of State Treasurer) from a university venture development fund administered by a university within the Oregon University System or the Oregon Health and Science University.

(3) A university within the Oregon University System or the Oregon Health and Science University may direct that moneys credited to its university venture development fund be held and invested by the university’s affiliated foundation. Any moneys held by an affiliated foundation under this section or ORS 351.697 (Purpose of funds) are not subject to the provisions of ORS chapter 293 or 295 and may not be considered public or state funds for any purpose. Moneys transferred to an affiliated foundation under this section or ORS 351.697 (Purpose of funds) may be used only as provided under ORS 351.692 (Venture grant program), 351.695 (University venture development funds), 351.697 (Purpose of funds) and 353.445 (Venture grant program).

(4) At the request of a university within the Oregon University System, moneys in the Higher Education Donation Fund that were deposited by the university under this section may be transferred to the university’s affiliated foundation.

(5) A university within the Oregon University System or the Oregon Health and Science University may retain or may elect to have its affiliated foundation retain some or all of the principal contributed to a university venture development fund for investment to perpetuate and increase the moneys available for expenditure. The balance of the fund and the earnings on that balance may be used as provided under ORS 351.692 (Venture grant program), 351.695 (University venture development funds), 351.697 (Purpose of funds) and 353.445 (Venture grant program). [2005 c.592 §7; 2007 c.586 §4]

Note: See note under 351.692 (Venture grant program).

Chapter 351

Atty. Gen. Opinions

State institu­tions of higher educa­tion paying carpooling employees' parking fees, (1974) Vol 36, p 1015

1 Legislative Counsel Committee, CHAPTER 351—Higher Education Generally, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­351.­html (2007) (last ac­cessed Feb. 12, 2009).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2007, Chapter 351, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­351ano.­htm (2007) (last ac­cessed Feb. 12, 2009).
 
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent.
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