Incorporation of authority.

(a) In order to incorporate an authority, the sponsoring university shall adopt a resolution containing at least the following provisions:

(1) A finding that it is necessary, desirable, and in the best interests of the sponsoring university that the proposed authority be incorporated.

(2) Approval of the form of articles of incorporation, which shall comply with the provisions of Section 16-17A-4.

(3) Authorization to proceed to form the proposed authority by executing the articles of incorporation approved by the sponsoring university and filing the same with the Secretary of State.

(b) A university may incorporate more than one authority if it determines that each authority promotes the public health mission of the university.

(Act 2016-201, §3.)