¹240.205  Board of Regents incorporated.--The Board of Regents is hereby created as a body corporate with all the powers of a body corporate for all the purposes created by, or that may exist under, the provisions of this chapter or laws amendatory hereof and shall:

(1)  Have a corporate seal.

(2)  Elect a corporate secretary.

(3)  Have and employ a staff attorney and other authorized personnel.

(4)  Have power to contract and be contracted with, to sue and be sued, and to plead and be impleaded in all courts of law and equity.

(5)  Receive donations.

(6)  Acquire real and personal property and contract for the sale and disposal of same and approve and execute contracts for the acquisition of commodities, goods, equipment, contractual services, leases of real and personal property, and construction. The acquisition may include purchase by installment or lease-purchase. Such contracts may provide for payment of interest on the unpaid portion of the purchase price. The board may also acquire the same commodities, goods, equipment, contractual services, leases, and construction for use by a university when the contractual obligation exceeds $1 million. Title to all real property, however acquired, shall be vested in the Board of Trustees of the Internal Improvement Trust Fund and shall be transferred and conveyed by it. Notwithstanding any other provisions of this subsection, the Board of Regents shall comply with the provisions of s. 287.055 for the procurement of professional services as defined therein.

History.--s. 5, ch. 79-222; ss. 3, 12, ch. 85-241; s. 5, ch. 89-381; s. 12, ch. 90-365; s. 4, ch. 95-143; s. 7, ch. 98-65; s. 3(7), ch. 2000-321.