(a) The Board of Trustees of the University of Central Arkansas created in § 6-67-102 is charged with the management and control of the University of Central Arkansas.
(b) The board shall have the power, authority, and duties formerly conferred by law on the board which it succeeds, including those set forth in this section.
(c) The board shall be charged with the liabilities of the corporate body which it succeeds.
(d)
(1) The board shall:
(A) Have perpetual succession of officers and members;
(B) Have the right to use and keep a common seal and to alter the seal at will;
(C) Have the right to contract and be contracted with; and
(D) Have the right to own, purchase, sell, and convey property, real, personal, and mixed, and be authorized and empowered to receive and hold donations, devises, bequests, and legacies for the use and benefit of the university, provided that all property purchased under the authority of this chapter shall be free from liens and encumbrances and that the title to the property as well as to any donation that the board may receive shall be taken in the name of the members of the board and shall become the property of the State of Arkansas.
(2) The board shall have full power and authority from time to time to make, constitute, and establish such bylaws, rules, and orders not inconsistent with law as to the board seems necessary for the regulation, government, and control of the board as trustees and all officers, teachers, and other persons by the board employed in and about the university, all persons in the university, and regarding limitations as to number of pupils to be admitted.
(3) The board shall fix and regulate tuition and all fees, costs, and other charges for attendance at the university.
(4) Admission requirements shall be established by the board, in accordance with policies adopted by the board, consistent with the laws and rules of this state.
(5) The board shall have the authority to grant diplomas and degrees.