DALLAS -- Texas A&M University has ordered an independent review of whether a nonprofit corporation can and should use its name for a $40 million taxable issue to buy the assets of a biotechnology company headed by the university's former chairman.

University regents said they were surprised to learn last month that the Texas A&M University System Research Technologies Corp. had been created May 3 and could issue bonds without the oversight of the regents, the state's Bond Review Board, or the Texas attorney general.

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