What is the responsibility of the ICOC?
• The responsibilities assigned to the ICOC are • Oversee the operations of the CIRM • Develop annual and long-term strategic research and financial plans for the institute • Make final decisions on research standards and grant awards in California • Ensure the completion of an annual financial audit of the institute’s operation • Issue public reports on the activities of the institution • Establish policies regarding intellectual property rights arising from research funded by the CIRM • Establish rules and guidelines for the operation of the ICOC and its working groups • Perform all other acts necessary or appropriate in the exercise of its power, authority, and jurisdiction over the institute • Select members of the working groups • Adopt, amend, and rescind rules and regulations to carry out the purposed and provisions of this chapter, and to govern the procedures of the ICOC • Adopt interim regulations as necessary which can remain in effect for 270 days or when final regulations
