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§ 10-435. Grant and loan conditions

West's Annotated Code of MarylandEconomic DevelopmentEffective: October 1, 2020

West's Annotated Code of Maryland
Economic Development (Refs & Annos)
Division II. Independent and Regional Development Units and Resources [Titles 9-End] (Refs & Annos)
Title 10. Statewide Development Resources and Revenue Authorities (Refs & Annos)
Subtitle 4. Maryland Technology Development Corporation (Refs & Annos)
Part III. Stem Cell Research (Refs & Annos)
Effective: October 1, 2020
MD Code, Economic Development, § 10-435
§ 10-435. Grant and loan conditions
Currentness
In general
(a) A grant or loan awarded under this part is contingent on the recipient:
(1) submitting to the Commission approval from an institutional review board; and
(2) entering into a memorandum of understanding with the Corporation that:
(i) establishes the scope of the State's ownership or other financial interest in the commercialization and other benefits of the results, products, inventions, and discoveries of State-funded stem cell research; and
(ii) to the extent consistent with federal and State law, reflects the intellectual property policies of the institution.
Limitation
(b) A recipient shall submit the approval required under subsection (a)(1) of this section within 6 months after the award of the grant or loan.
Conditions precedent to disbursement
(c) The Corporation may not disburse grant or loan money to a recipient until:
(1) the recipient has obtained the approval required under subsection (a)(1) of this section; and
(2) the recipient and the Corporation have entered into the memorandum of understanding required under subsection (a)(2) of this section.

Credits

Added by Acts 2008, c. 306, § 2, eff. Oct. 1, 2008. Amended by Acts 2020, c. 580, § 1, eff. Oct. 1, 2020.
MD Code, Economic Development, § 10-435, MD ECON DEV § 10-435
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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