2006 New Mexico Statutes - Section 21-28-6 — Powers of research park corporation.

21-28-6. Powers of research park corporation.

A research park corporation shall have all the powers necessary and convenient to carry out and effectuate the provisions of the University Research Park Act [ 21-28-1 NMSA 1978], including but not limited to the power to:   

A.     approve or disapprove proposals;   

B.     sue and be sued in its corporate name;   

C.     purchase, take, receive or otherwise acquire; own, hold, dispose of or use; and otherwise deal in and with property, including an interest in or ownership of intangible personal property, intellectual property or technological innovations;   

D.     sell, convey, pledge, exchange, transfer or otherwise dispose of its assets and properties for consideration upon terms and conditions that the corporation shall determine; provided that any sale, conveyance, pledge, exchange, transfer or disposal of a real property interest by a research park corporation shall be made in accordance with the provisions of Section 13-6-2 NMSA 1978;   

E.     make contracts, incur liabilities or borrow money at rates of interest that the research park corporation may determine;   

F.     make and execute all contracts, agreements or instruments necessary or convenient in the exercise of the powers and functions of the corporation granted by the University Research Park Act;   

G.     receive and administer grants, contracts and private gifts;   

H.     invest and reinvest its funds;   

I.     conduct its activities, carry on its operations, have offices and exercise the powers granted by the University Research Park Act;   

J.     make and alter bylaws that may contain provisions indemnifying any person who is or was a director, officer, employee or agent of the corporation and that are consistent with the University Research Park Act, for the administration and regulation of the affairs of research park corporations;   

K.     employ officers and employees that it deems necessary, set their compensation and prescribe their duties;   

L.     enter into agreements with insurance carriers to insure against any loss in connection with its operations;   

M.     authorize retirement programs and other benefits for salaried officers and employees of the research park corporation;   

N.     employ fiscal consultants, attorneys and other consultants that may be required and to fix and pay their compensation; and   

O.     enter into license agreements and contracts, including those involving intellectual property and technological innovations such as patents, copyrights, franchises and trademarks.