(2) The Oregon Beef Council may, consistent with the purposes of the council, develop intellectual property that relates to beef or assists in the implementation, maintenance or development of council programs. The council may take all necessary and proper actions relating to the development of an intellectual property, including but not limited to entering into contracts and other agreements and owning, managing, disposing of or using the intellectual property. The council may adopt rules to govern the ownership, management, disposal and use of intellectual property and other activities of the council relating to intellectual property.
(3) Moneys received by the council as a result of the ownership, management, disposal or use of intellectual property, or other activities of the council relating to intellectual property, must be deposited to an account established and maintained by the council. [2003 c.604 §56]