(1) The governing boards of public universities listed in ORS § 352.002 and the Oregon Health and Science University Board of Directors may contract with the Western Interstate Commission for Higher Education to furnish educational service in their respective Oregon public universities to out-of-state students.

(2) The governing boards of public universities listed in ORS § 352.002 and the Oregon Health and Science University Board of Directors shall determine the number of out-of-state students that should be accepted into their respective universities, and shall make final decisions on admission of individual applicants.

(3) Payments made by the commission under such contracts shall be deposited with the public university attended by the student in the same manner that fees and tuition payments for resident students are deposited and credited. The estimated amount of the payments must be considered by the governing board of the public university in making its biennial budgetary requests. Payments made by the commission under such contracts must be deposited with the Oregon Health and Science University for students who enroll in that university under the terms of such contracts. [Formerly 351.840]