The Board of Trustees shall have the superintendence of the University, with power to appoint and remove the faculty and other officers and agents of the University and of its own body; to fill vacancies and to make bylaws as well for the government of the University as its own government; and to conduct all the concerns of the institution. A majority of all those members appointed by the Governor and those members elected by the Board shall constitute a quorum. Meetings of the Board shall be held as the bylaws prescribe.