Rule 60304: External Nonprofit Corporations
Sec. 1 Acceptance of Gifts or Bequests.
The Board of Regents recognizes that there are legally incorporated nonprofit organizations (most having the word "foundation" in their charter) whose sole purpose is to benefit The University of Texas System, the institutions, or teaching, research, and other activities within those institutions. These organizations are administered by boards of directors independent from the control and supervision of the Board of Regents. Gifts or bequests from any such external organization to the University must be accepted and approved under gift acceptance policies.
Sec. 2 University-Affiliated Foundations.
The relationships between the U. T. System and U. T. System institutions and nonprofit organizations classified as University-Affiliated Foundations is defined in Regents’ Rule 60305.
May 15, 2014
December 10, 2004