Binding Agreement Bylaws

Article 9: Grants, Section 5: Disbursement

... Disbursement will not occur unless and until a binding agreement stating that any copyrights, patents, or trademarks to ensure from such a project funded by the corporation will be owned solely by the corporation. If such a binding agreement was not secured when the grant request was approved by the board, due to additional or alternative recipients being funded, then such binding agreement must be secured before any distribution of funds can occur.