Section 53B-2-112 - Formation of non-profit corporations or foundations(1) An institution of higher education described in Section 53B-2-101 may form a non-profit corporation or foundation to aid or assist the institution of higher education, within the institution of higher education's mission and role described in Section 53B-16-101, in meeting the institution of higher education's charitable, scientific, literary, research, educational, or other objectives.(2) The board and the president of the institution of higher education control a nonprofit corporation or foundation described in Subsection (1).(3) A nonprofit corporation or foundation described in Subsection (1) may receive and administer:(a) legislative appropriations;(c) private contracts; orAdded by Chapter 187, 2021 General Session ,§ 9, eff. 5/5/2021.