Chapter 23I

Section 15. The center shall annually complete a detailed report setting forth its operations and accomplishments; its receipts and expenditures during such fiscal year; its assets and liabilities at the end of its fiscal year; the anticipated return on investment to the commonwe…

Section 16. The books and records of the center shall be subject to an audit by the state auditor, in accordance with generally accepted government auditing standards, as often as the state auditor determines is necessary.

Section 17. (1)(a) Notwithstanding the provisions of chapter 32, or of any general or special law to the contrary, the center shall establish 1 or more optional retirement programs that qualify under section 401, 408 or 457 of the Internal Revenue Code, as may be amended from tim…

Section 18. The center shall be subject to section 16G of chapter 6A and section 56 of chapter 23A.

Section 2. As used in this chapter, the following words shall, unless the context clearly requires otherwise, have the following meanings:— ''Affiliate'', any business which directly or indirectly controls or is controlled by or is under direct or indirect common control of anoth…

Section 3. (a) There is hereby created a body politic and corporate to be known as the Massachusetts Life Sciences Center. The center is hereby constituted a public instrumentality and the exercise by the center of the powers conferred by this chapter shall be considered to be th…

Section 4. (a) The center shall have all powers necessary or convenient to carry out and effectuate its purposes, including, without limiting the generality of the foregoing, the powers: (1) to adopt and amend bylaws, regulations and procedures for the governance of its affairs a…

Section 5. (a) There shall be established a commonwealth life sciences investment program which shall be administered by the center. The purpose of the program shall be to expand life sciences-related employment opportunities in the commonwealth and to promote health-related inno…

Section 6. (a) There shall be established and placed within the center a fund to be known as the Massachusetts Life Sciences Breakthrough Fund to finance the activities of the center. The fund shall be credited with: (i) any appropriations or other money authorized by the general…

Section 7. (a) There shall be established and placed within the center a fund to be known as the Dr. Craig C. Mello Small Business Equity Investment Fund, hereinafter in this section referred to as the fund, to be held by the center separate and apart from its other funds. The fu…

Section 8. (a) There shall be established and placed within the center a fund to be known as the Dr. Judah Folkman Higher Education Grant Fund, hereinafter in this section referred to as the fund, to be held by the center separate and apart from its other funds. The fund shall be…