(a) The College of Medicine of the University of Arkansas shall be under the management and control of the Board of Trustees of the University of Arkansas as fully and with like effect as the other departments of the University of Arkansas.
(b)
(1) The Board of Trustees of the University of Arkansas shall employ all necessary supervisors, professors, teachers, agents, and servants required to carry on the college and shall cause the college to be operated in a first-class manner and with courses of study, methods of instruction, and equipment of a standard equal to that required of medical colleges by the Association of American Medical Colleges.
(2) The board shall from time to time as the finances will allow and the advancement and necessity of the department require, add courses, fill professorships, and add buildings, furniture, libraries, apparatus, and other things so as to keep the college up to the standard required of medical colleges by the Association of American Medical Colleges.