This section outlines policy regarding loans, gifts, and transfers of inventorial equipment by departments and between the University and external organizations, vendors, or individuals. The department must notify the Equipment Management Department when the equipment is returned. The department must notify the Equipment Management Department when the equipment is returned. Such loans require the prior approval of the Equipment Management Department. The department must notify the Equipment Management Department when the equipment is returned.
University property is covered by insurance worldwide, both on location and in transit.
Equipment loaned for demonstration or approval purposes must have the prior approval of the Purchasing Department. A Campus Gift Acceptance Report is not required, however. In some cases, however, transfers of University property without recompense may be made. The factual and legal aspects of such transactions require careful consideration to determine the applicability of Constitutional restrictions. Therefore, all proposals to donate or transfer University property to external organizations or agencies without apparent consideration or payment must be approved by General Counsel.