2015 Louisiana Laws
Revised Statutes
TITLE 51 - Trade and Commerce
RS 51:2214 - Governing board; authority; duties

§2214. Governing board; authority; duties

A. There is hereby established within the Board of Regents the MediFund Board, hereafter referred to as the "board", which shall be composed as provided in Subsection B of this Section. The commissioner of higher education shall take such actions as are necessary to have the roster of initial board members compiled on or before September 1, 2013, and to convene the first meeting of the board on or before November 1, 2013.

B. The board shall be composed of thirteen members, each of whom shall possess significant experience in biosciences, biomedical, translational, or regenerative research, or applications, and none of whom may be employed by an entity that is eligible to receive MediFund grants; as follows:

(1) One member appointed by the commissioner of higher education.

(2) Four members appointed by the governor.

(3) One member appointed by the secretary of the Department of Health and Hospitals.

(4) One member appointed by the secretary of the Department of Economic Development.

(5) One member appointed by the speaker of the House of Representatives.

(6) One member appointed by the president of the Senate.

(7) Three members appointed in the number of one member apiece by each of the following organizations which collectively represent the top three regions of the state for National Institutes of Health funding amounts:

(a) Baton Rouge Area Chamber.

(b) Greater New Orleans, Inc.

(c) North Louisiana Economic Partnership.

(8) One member appointed by the Sponsored Programs Committee of the Board of Regents.

C. Board members shall serve without compensation and shall receive no per diem.

D. A simple majority of the members of a board shall constitute a quorum for the transaction of business. At its first meeting and annually thereafter with at least two-thirds of the members present, the board shall elect one of its members as chairman, one member as vice chairman, and one member as secretary.

E. The board shall adopt bylaws to provide for the governance of the board. The bylaws shall include but not be limited to procedures and grounds for the removal of any board member. Grounds for removal shall include conviction of a felony and may include failure to meet board attendance rules as provided in the bylaws.

F. Procedures for filling a vacancy created by the removal, resignation, or death of any board member prior to the end of the board member's term shall follow those used for initial appointments.

G. The board shall have the authority to take all of the following actions:

(1) Form a Research Advisory Council composed of representatives of the Louisiana State University System Research Technology Foundation, New Orleans BioInnovation Center, BioDistrict New Orleans, Pennington Biomedical Research Center, Ochsner Health System, Tulane University, Xavier University, Louisiana State University Health Sciences Center at New Orleans, Louisiana State University Health Sciences Center at Shreveport, Willis Knighton Health System, and the BioMedical Research Foundation of Northwest Louisiana to determine priority research concentrations and commercialization strategies, or other matters as may be requested by the board.

(2) Form special committees, advisory councils, or similar bodies to study and make policy recommendations to the board concerning priority research areas, research commercialization strategies, or other matters as may be requested by the board.

(3) Enter into contracts as necessary, through the Sponsored Programs Unit of the Board of Regents, for development of proposal evaluation criteria, coordination of a proposal evaluation process, or other functions related to evaluation of funding proposals and applications for funding submitted to the board.

(4) Promulgate all such rules, in accordance with the Administrative Procedure Act, as are necessary to carry out the programs and functions of the MediFund.

(5) Sue and be sued in the name of the board.

H. On or before January 1, 2015, and annually thereafter, the board shall submit to the House and Senate committees on education, the House and Senate committees on commerce, and the Louisiana Innovation Council a report that addresses funding activities undertaken and performance outcomes by the MediFund in the most recent one-year period and any other information that the board deems appropriate to convey a clear understanding of the operations and impact of the MediFund on commercialization of bioscience research, improvement of health outcomes, number of new jobs created, grants, patents, spinoff companies, scientific discoveries, published research, and total economic benefit.

Acts 2013, No. 320, §2, eff. June 17, 2013.