Regents cautiously approve 2 measures for UNLV medical school launch
The Board of Regents approved two measures Friday that should ensure a smooth opening for the UNLV medical school on July 1 — albeit with a healthy dose of conversation and caution.
Regents raised concerns about accountability as they approved the bylaws and operating agreement for the faculty practice plan, along with a $19 million line of credit. The bylaws were questioned by several regents, who wanted to know how the board would fit into decision making.
“The practice plan could run amok,” Regent Trevor Hayes said. “How do we have control to make sure the practice plan is run properly?”
Some members of the board expressed so much confusion that board Chairman Rick Trachok asked for a 20-minute break so UNLV staff could create a chart showing what would be the chain of command once the school opened.
Barbara Atkinson, dean of the medical school, came back with a diagram that showed the regents at the top.
“One of the things we insisted on was that the board be the corporate member of this entity,” said Nick Vaskov, vice chancellor for legal affairs for the Nevada System of Higher Education. “As the corporate member, you can remove directors. But more importantly, you can dissolve this entity at any time.”
He added that the board can also provide direction to Atkinson at any time, and that she has the obligation to carry out their decisions.
“You have the ultimate source of authority here,” Vaskov said. “I’ll be blunt. You can kill this thing at any time.”
After approving the bylaws and operating agreement, the board approved the school’s request for a $19 million line of credit.
UNLV President Len Jessup said a request for proposals has already been sent, and there are about six banks that are “primed and interested.”
“It’s a good business for them,” he said.
Jessup said the credit line also would help keep the university from dipping into its reserve funds.
Contact Natalie Bruzda at nbruzda@reviewjournal.com or 702-477-3897. Follow @NatalieBruzda on Twitter.
