Utah Code 53B-31-201. Nonprofit corporations or foundations — Purpose
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(1) Utah Tech University may form a nonprofit corporation or foundation controlled by the president of the university and the board to aid and assist the university in attaining its charitable, communications, and other related educational objectives, including support for media innovation, film festivals, film production, print media, broadcasting, television, and digital media.
Terms Used In Utah Code 53B-31-201
- Board: means the Utah Board of Higher Education described in Section 53B-1-402. See Utah Code 53B-1-101.5
- 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.
(2) The nonprofit corporation or foundation may receive and administer legislative appropriations, government grants, contracts, and private gifts to carry out its public purposes.