2.50 Affiliated Legal Entities

A. Arrowhead Center, Inc. (f/k/a NMSU Technology Transfer Corporation, Inc.)

In order to properly focus the development of research technology, the Board of Regents authorized the establishment of the Arrowhead Center. Inc., under the Research Park Act, as a not-for-profit corporation to assist and foster the development and marketing of selected university technology and intellectual properties. Members of the corporation include two regents, the president, the provost and chief academic officer, the vice president for research, and the vice president administration and finance. The chief operating officer will be the vice president for research.

B. New Mexico State University Research Park Corporation, Inc.

The purpose of the Research Park is to serve as an important adjunct to the university and its programs of instruction, research, and service and to provide resources for the overall benefit of the institution and its constituencies. Any leasing or management arrangements must be under conditions which protect the interests of the university and are approved by the Board of Regents. The board authorized the president to establish, on behalf of the board, the NMSU Research Park Corporation, Inc., as a not-for-profit corporation under the University Research Park Act. The initial board of directors of the NMSU Research Park Corporation, Inc., shall be two regents determined by the board, the President, the provost and chief academic officer, the vice president for research, and the vice president administration and finance. The purpose of the corporation is to develop the Arrowhead Research Park. The board has approved the Operating Policy Agreement between the Board of Regents and the Board of Directors of the NMSU Research Park Corporation.