Georgia Board of Regents files suit against MCG Foundation

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Georgia Board of Regents files suit against MCG Foundation

By NBC Augusta 26 News Staff

Story Published: Oct 20, 2009 at 12:54 PM EST

Story Updated: Oct 20, 2009 at 12:58 PM EST

ATLANTA, Ga. - The Board of Regents of the University System of Georgia announced it has filed a lawsuit against the Medical College of Georgia Foundation.

The lawsuit was filed in the Superior Court of Richmond County on Tuesday.

NBC Augusta 26 News first told you about the college splitting from the foundation in June 2008.

The suit claims the Foundation has refused to cease using the name "Medical College of Georgia" as it was set to do based on the termination agreement.

It also notes failure of the Foundation to collaborate and cooperate with MCG and the Board of Regents is harmful and jeopardizes the school’s accreditation and fundraising.

The Board of Regents states it believes the courts can provide the only means of resolving the relationship between MCG and the Foundation.

The Medical College of Georgia Foundation started in 1954 as a not-for-profit corporation. It was set up to acquire and hold property and money for the Medical College of Georgia.

 


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