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1996 SESSION

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HB 837 Creation of university corporations by George Mason University.

Introduced by: Vincent F. Callahan, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY:

Creation of university corporations by George Mason University. Authorizes the board of visitors of George Mason University to create, own, or control university corporations or other legal entities. This ownership authority runs to corporations or other legal entities whose activities will promote the operations and mission of the University. The board of directors of any such corporation, partnership or other legal entity will serve at the pleasure of the board of visitors of the University. The board may enter into contracts with these corporations and authorize its officers and employees to execute and administer the contracts; the contractors are deemed sole source providers under the Procurement Act. The board of visitors will, however, have to ensure opportunities for competition. These corporations will not be deemed state or governmental agencies for purposes of the Personnel Act, the Privacy Protection Act, the Virginia Retirement System, or the Procurement Act. The Auditor of Public Accounts will annually audit the financial accounts of these corporations. This bill expires on July 1, 2000.


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