2006 Minnesota Statutes

116P.10 ROYALTIES, COPYRIGHTS, PATENTS.
This section applies to projects supported by the trust fund and the oil overcharge money
referred to in section 4.071, subdivision 2, each of which is referred to in this section as a "fund."
The fund owns and shall take title to the percentage of a royalty, copyright, or patent resulting
from a project supported by the fund equal to the percentage of the project's total funding
provided by the fund. Cash receipts resulting from a royalty, copyright, or patent, or the sale of
the fund's rights to a royalty, copyright, or patent, must be credited immediately to the principal of
the fund. Receipts from Minnesota future resources fund projects must be credited to the trust
fund. Before a project is included in the budget plan, the commission may vote to relinquish
the ownership or rights to a royalty, copyright, or patent resulting from a project supported by
the fund to the project's proposer when the amount of the original grant or loan, plus interest,
has been repaid to the fund.
History: 1988 c 690 art 1 s 14; 1993 c 172 s 79; 2003 c 128 art 1 s 151