New Mexico Statutes 53-7B-3. Definitions
As used in the New Mexico Research Applications Act:
Terms Used In New Mexico Statutes 53-7B-3
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
A. “board” means the board of directors of the research applications center; B. “department” means the economic development department;
C. “research applications center” means the nonprofit corporation created pursuant to the Nonprofit Corporation Act [N.M. Stat. Ann. Chapter 53, Article 8] and the New Mexico Research Applications Act;
D. “technological innovations” includes research, development, prototype assembly, manufacturing, patenting, licensing, marketing and sale of inventions, ideas, practices, applications, processes, machines and technology and related property rights of all kinds; and
E. “university” means:
(1) a New Mexico educational institution named in Article 12, Section 11 of the constitution of New Mexico;
(2) a community college organized pursuant to the Community College Act [N.M. Stat. Ann. Chapter 21, Article 13]; or
(3) a technical and vocational institute organized pursuant to the Technical and Vocational Institute Act [N.M. Stat. Ann. Chapter 21, Article 16].