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The University of Tennessee shall retain its identity and status as a legal entity, a body politic and corporate and as one of the state's federal land-grant institutions.
Except as expressly provided in this part, its board of trustees shall retain and exercise all the authority, rights, powers and duties, express or implied, vested in it by legislative charter and enactments and other applicable laws. Nothing in this part shall be construed to deprive the board of the authority, rights, powers and duties conferred upon it by law in the government of the institutions, branches, colleges, divisions and departments now under its control, except those duties that by this part are expressly vested in the commission.
Except for the powers that are vested in the commission by this part, nothing in this part shall be construed to deprive the board of regents and the state university boards of the authority, rights, powers, and duties conferred upon them by law, express or implied, in the government, control, and operation of their respective institutions.