§10603.__Duties of board of regents; statewide policies

1.__Establishment of statewide policies for higher education.__ The board of regents shall establish statewide policies and guidelines for the state system, including establishing statewide policies and guidelines to:

A.__Develop a master plan for higher education and postsecondary education consistent with the goals in subsection 2;

B.__Review and approve mission statements for the constituent units and mission statements for the individual institutions and branches of the constituent units;

C.__Prepare and present to the Governor and the Legislature consolidated operating and capital expenditure budgets for the state system;

D.__Establish statewide tuition and student fee policies and guidelines;

E.__Establish statewide student financial aid policies and guidelines;

F.__Monitor and evaluate institutional effectiveness and viability in accordance with criteria established by the board of regents;

G.__Merge or close institutions in accordance with criteria established by the board of regents except that:

(1) A recommended merger or closing requires a 2/3 vote of the board of regents; and

(2) Notice of the recommended merger or closing must be sent to the joint standing committee of the Legislature having jurisdiction over education matters;

H.__Review and approve any recommendations for the establishment of new academic programs submitted to the board of regents by the constituent unit boards of trustees, and, in consultation with the affected constituent units, provide for the initiation, consolidation or termination of