Oklahoma State University Policy and Procedures


TRANSFER OF PROPERTY TO OTHER ORGANIZATIONS

1-0106
GENERAL UNIVERSITY
JANUARY 15, 1970

POLICY

l.0l Because of its limited resources, Oklahoma State University's firm policy is that property obtained from whatever source shall remain with the University as long as there is a need for it within the total institution and it is economically feasible to maintain it in operation.

l.02 Property which has been purchased with sponsor's funds will be transferred upon receipt of proper request and sponsor authorization, if title has not been vested in the University and no law, agreement, or regulation exists to indicate that the University may logically expect to obtain title to the property. Where title to sponsor-purchased property has been vested in the University or will become so vested in the normal course of events, transfer will only be approved when no need for it exists currently or in the foreseeable future, e.g., property which is uniquely applicable to an individual's research effort.

l.03 Property which has been purchased from the institution's own funds normally will not be available for transfer or otherwise disposed of, except through procedures which have been established by the Vice President for Business and Finance of the University for disposal of surplus and non-usable property.

PROCEDURE

2.0l The following conditions must be met (not necessarily in the order listed) before a transfer of property can be approved by the University:


Reference: Academic Council Minutes, December l8, l969.
Office of the Vice President for Academic Affairs, January l5, l970.
Revised: March, l978