49-8-203. Powers and duties.

(a) (1)  The board has the power to: 

(A) Select and employ the chief executive officers of the institutions upon the recommendation of the chief executive officer of the system and to confirm the appointment of administrative personnel, teachers and other employees of each state institution, and to fix their salaries and terms of office; 

(B) Prescribe curricula and requirements for diplomas and degrees; 

(C) Approve the operating and capital budgets of each of the institutions and schools under its control, and otherwise set policies for their fiscal affairs; 

(D) Establish policies and regulations regarding the campus life of the institutions, including, but not limited to, the conduct of students, student housing, parking and safety; and 

(E) Assume general responsibility for the operation of the institutions, delegating to the chief executive officer of the respective institutions such powers and duties as are necessary and appropriate for the efficient administration of the institution and its programs. 

(2) The board has the power to receive donations of money, securities and property from any source on behalf of the institutions named in § 49-8-101, which gifts shall be used in accordance with the conditions set by the donor. 

(3) The board has the power to purchase land subject to the terms and conditions of state regulations, to condemn land, to erect buildings and equip them for the institution subject to the terms and conditions of legislative appropriations. The board shall be vested with title to property so purchased or acquired. The title to property held on behalf of the institutions named in § 49-8-101 by the state board of education shall be transferred to the board on the effective date of transfer of responsibility for the government of the above named institutions. 

(4) The board has such other powers, not otherwise prescribed by law, as are necessary to carry out the provisions of this part, and it is the expressed legislative intent and purpose to vest similar and comparable responsibility and authority in the board as is authorized for the board of trustees of the University of Tennessee; provided, that in exercising any power to borrow money for any purpose, whether by the issuance of bonds or notes or by any other method, the board of regents shall first secure the approval of the state school bond authority. 

(b)  Notwithstanding any other provision of law, neither the board of regents nor any institution under its jurisdiction is authorized to borrow money for any purpose, whether by the issuance of bonds or notes or by any other method, without first securing the approval of the state school bond authority. 

(c)  The board of regents of the state university and community college system, and institutions under its jurisdiction, shall not enter into any final agreement or other final arrangement for a merger or consolidation with a private institution of higher education without the authorization of the general assembly, acting through legislation, resolution or appropriations. 

(d)  It is unlawful for any member of the board to be financially interested in any contract or transaction affecting the interests of any institution governed by the board, to procure, or be a party in any way to procuring, the appointment of any relative to any position of financial trust or profit connected with the universities and colleges governed. A violation of this subdivision shall subject the member so offending to removal by the governor or the board. 

(e)  The board shall make and submit an annual report to the governor and general assembly at the end of each fiscal year. 

(f) (1)  Wherever in existing law, authority is granted to the state board of education to perform some duty in connection with the institutions named in § 49-8-101, such authority shall be transferred to and exercised by the board. In no case shall the board exercise authority inconsistent with provisions of this part or with chapter 7 of this title. 

(2) Transfer of the governing authority of the institutions named in § 49-8-101 shall be implemented as soon after the effective date as the board shall determine, but present policies of the board of education shall remain in effect until reviewed and adjusted by the board of regents. 

[Acts 1972, ch. 838, §§ 4, 6-8, 11; 1979, ch. 116, §§ 1, 2; 1979, ch. 182, § 1; 1983, ch. 181, § 4; T.C.A., §§ 49-3239, 49-3241 - 49-3244.]