Okla. Stat. tit. 70, § 70-3206.4: Ownership interest in private enterprise in exchange

for research and development.

A. The Legislature hereby specifically authorizes the board of

regents for each of the institutions within The Oklahoma State

System of Higher Education to own an equity interest in a private

business enterprise if the equity interest is acquired through an

exchange of value other than money and the exchange of value is made

in connection with the development of technology by the private

business enterprise through the use of facilities or resources or

both of an institution within The Oklahoma State System of Higher

Education. Acquisition of an equity interest shall be permissible

through the use of the facilities, premises or assets of an

institution within The Oklahoma State System of Higher Education or

through the use of faculty expertise or student expertise, including

the value of time expended by faculty or students upon developing a

technology in connection with a private business enterprise or

private business entity.

B. No state-appropriated monies shall be used or obligated to

acquire an ownership interest in a private business enterprise

except as authorized by the provisions of this section.