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House Bill 2051 |
House Author: Villalba et al. |
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Effective: 6-14-13 |
Senate Sponsor: Carona |
House Bill 2051 amends an Education Code provision authorizing an institution of higher education, to the extent authorized by the institution's governing board, to accept equity interests in certain organizations. The bill authorizes the institution to accept these interests to support the activities of centers established by the institution for commercializing technology owned by the institution, to accept convertible promissory debt instruments issued by the organizations, or to accept a combination of equity interests and debt instruments.