Section 21-11-8.6 - Technology research collaborative created; purposeA. The "technology research collaborative" is created. The New Mexico institute of mining and technology shall be the fiscal agent for the collaborative.B. Participating institutions associated with the collaborative shall include national laboratories, other major research institutes and all of the post-secondary educational institutions in New Mexico.C. The purpose of the collaborative is to: (1) establish advanced technology centers based on the wealth of scientific and technical talent that exists in the member institutions;(2) develop and create new intellectual property for the state, encourage new opportunities for business and increase jobs;(3) commercialize the intellectual property that is created; and(4) create a work force to support enterprises based on the intellectual property that is created.D. Intellectual property created by an employee or agent of an institution associated with the collaborative shall be owned by that institution. Intellectual property created jointly by the collaborative and an institution shall be owned jointly by those entities. If the intellectual property is created using federal funds, the applicable federal laws and regulations shall govern the ownership.E. The collaborative may receive appropriations from the legislature through the board of regents of the New Mexico institute of mining and technology and may receive any other items of value from public or private sources.F. The "board of the technology research collaborative" is created. The board shall consist of eleven members as follows: (1) the governor or the governor's designee, who shall chair the collaborative;(2) the presidents, or their designees, of the university of New Mexico, New Mexico state university and New Mexico institute of mining and technology;(3) five members at large, appointed by the governor with the consent of the senate;(4) the director of Sandia national laboratories or the director's designee; and(5) the director of Los Alamos national laboratory or the director's designee.G. Appointed members shall serve for two-year terms at the pleasure of the governor. Members shall serve until their successors have been appointed. The governor may fill any vacancy on the board for the remainder of an unexpired term.H. The board may elect officers as it deems necessary to carry out its duties. A majority of the members of the board shall constitute a quorum for the transaction of business, and the board shall meet four times per year. Board members shall not vote by proxy.I. Public members of the board shall receive per diem and mileage pursuant to the Per Diem and Mileage Act [10-8-1 to 10-8-8 NMSA 1978] and shall receive no other compensation, perquisite or allowance.J. The board shall: (1) employ a director and other staff, who shall be exempt from the provisions of the Personnel Act [Chapter 10, Article 9 NMSA 1978], as the board deems necessary to provide continuity and management of the collaborative; and(2) prepare annual reports to the legislature on the expenditures and progress of the collaborative.