2007 Minnesota Statutes

136F.77 EQUITY INVESTMENTS.
    Subdivision 1. Powers of board. The board may acquire an interest in a product or a private
business entity for the purpose of developing and providing educational materials and related
programs or services to further the mission of the Minnesota State Colleges and Universities and
foster the economic growth of the state. The board may enter into joint venture agreements
with private corporations to develop educational materials and related programs or services.
Any proceeds from the investments or ventures are appropriated to the board. The state is not
liable for any obligations or liabilities that arise from investments under this section. The board
must report annually by September 1 to the legislature regarding its earnings from partnerships
and the disposition of those earnings.
    Subd. 2. Consultation required. Prior to entering into a joint venture agreement under this
section, the board shall consult with appropriate exclusive bargaining representatives and must
address topics such as employee protections, instructional services, information availability,
and reporting conflicts of interest.
    Subd. 3. No abrogation. Nothing in this section shall abrogate the provisions of sections
43A.047 and 136F.581.
History: 2000 c 392 s 5; 2000 c 488 art 2 s 8