To further the development of the research activities of the System, the Board of Regents, on behalf of the Desert Research Institute, may:
1. Enter into contracts with governmental or private agencies or natural persons who wish to use the services or facilities of the Desert Research Institute.
2. Receive and hold, by gift, bequest, devise, grant, purchase or otherwise, any real or personal property, including patents, copyrights, royalties and contracts from natural persons or corporations.
3. Manage, invest, use and dispose of any property so received, either as specified by the donor or for the furtherance of the objectives of the Desert Research Institute.
4. Receive, invest, disburse and account for all money acquired pursuant to subsection 2 or through contractual or sponsored arrangements with governmental or private agencies or natural persons.
(Added to NRS by 1959, 286; A 1965, 93; 1979, 215; 1993, 354)