WV SB825

State higher education institutions may enter agreements with 501(c) nonprofit corporations established exclusively for economic development and job creation purposes

University presidents and their appointees may serve as voting directors of these nonprofit corporations, but are not required to do so

Meetings of the nonprofit corporation's board of directors are exempt from the state's open governmental proceedings requirements

The nonprofit corporations' assets and agreements with universities are exempt from existing statutory requirements that typically govern research and development corporations under §18B-12-3 and §18B-12-4

The bill also expands the legislative purpose statement to include fostering intercollegiate athletics' operational success and competitive nature through private corporation partnerships