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2003 SESSION

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HB 2283 Conflict of interests; contracts for R&D and intellectual property.

Introduced by: Jeannemarie Devolites | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Conflict of interests in contracts for research and development or commercialization of intellectual property. Authorizes the relevant board of visitors of a public institution of higher education in Virginia or the Eastern Virginia Medical School to delegate its authority to grant waivers to the conflict of interests statute for contracts between a business in which the employee has a personal interest and the institution for a contract for research and development or commercialization of intellectual property. If the board delegates this authority, it must include this delegation of authority in the formal policy required by clause (iii) of subdivision C 7. Additionally, if the board delegates this authority, the bill requires the president of the institution to file with the board of visitors by December 1 an annual report including the same information that the board of visitors is required to file with the Secretary of the Commonwealth under clause (v) of subdivision C 7.


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