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1997 SESSION
SB 585 Powers of governing bodies of public institutions of higher education.
Introduced by: Stephen D. Newman | all patrons ... notes | add to my profiles
SUMMARY:
Powers of governing bodies of public institutions of higher education. Requires the board of visitors or other governing body of every public institution of higher education, whether two-year or four-year, to require every foundation or other nonprofit, tax-exempt organization maintaining an association with the public institution of higher education for purposes of soliciting or otherwise raising funds, in compliance with state and federal law relating to nonprofit, tax-exempt organizations, to obtain an annual financial audit from a certified public accountant as a condition of continuing its association with the public institution.
This provision defines "association with the public institution" as meaning any use of the institution's name, logo, mascot, acronym, sobriquet, memorabilia, history, specific site, campus, offices, officials, administration, faculty, staff, student body, alumni, athletic teams, intramural organizations, musical organizations, educational or social organizations, academic departments, programs or schools, or other relationship or direct or indirect reference to the institution.