Sec. 490.154. GUARANTEE OF ACTION BY PARTICIPATING ENTITY

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(a) An entity participating in a regional center of innovation and commercialization that receives funding or another incentive under this subchapter shall guarantee by contract with the governor's office that the entity will perform specific actions expected to provide benefits to this state.
(b) If an entity fails to perform an action guaranteed by contract under Subsection (a) before a time specified by the contract, the entity shall return to the fund the money received by the entity under this subchapter.

Added by Acts 2005, 79th Leg., Ch. 280 , Sec. 1, eff. June 14, 2005.

                    
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