Board of Governors of the Colorado State University System

C.R.S. tit. 23, art. 30

in effect

C.R.S. § 23-30-101 Board of governors of the Colorado state university system

23-30-101. Board of governors of the Colorado state university system. (1) (a) The board of governors of the Colorado state university system, referred to in this section as the "board", is established. The board consists of fifteen members as provided in subsections (1)(b) and (1)(d) of this section. (b) Six of the members are advisory, without the right to vote. The advisory members serve terms of one academic year. The six advisory members shall be elected or appointed by their respective governing bodies from their membership as follows: (I) One elected officer of the student body who is a full-time junior or senior student at Colorado state university; (II) One elected officer of the faculty council of Colorado state university having the rank of associate professor or higher; (III) One elected officer of the student body who is a full-time junior or senior student at the Colorado state university - Pueblo; (IV) One elected officer of the faculty council of the Colorado state university - Pueblo having the rank of associate professor or higher; (V) One student in good standing from the CSU global campus student body, to be recommended by the student affairs committee and approved by the governing council at CSU global campus; and (VI) One CSU global campus faculty member with a minimum of three years of service on the CSU global campus faculty, to be recommended by the faculty affairs committee and approved by the governing council at CSU global campus. (c) Repealed. (d) The remaining nine members of the board shall be appointed by the governor with the consent of the senate in the following manner: (I) One of the nine voting members shall either reside in Larimer county or be a graduate of Colorado state university. (II) One of the nine voting members shall either reside in southern Colorado, as defined in subsection (1)(f) of this section, or be a graduate of Colorado state university - Pueblo. (III) At least two of the nine voting members shall have substantial experience in the production of agriculture. (IV) The appointment of the voting members not appointed under subparagraphs (I) and (II) of this paragraph (d) shall be made with consideration given to broad geographical representation whenever possible. (e) (Deleted by amendment, L. 2008, p. 1999, § 1, effective August 5, 2008.) (f) For purposes of paragraph (d) of this subsection (1), "southern Colorado" means Alamosa, Baca, Bent, Chaffee, Conejos, Costilla, Crowley, Custer, Fremont, Huerfano, Kiowa, Las Animas, Mineral, Otero, Prowers, Pueblo, Rio Grande, and Saguache counties. (g) The term of office for each member appointed by the governor is up to four years, expiring on December 31 of the third calendar year following the calendar year in which the member is appointed; except that the terms shall be staggered so that at least two members' terms expire in each calendar year. (h) A person, elected or appointed under this section, shall not serve on the board for more than two terms; except that a member of the board, whether elected or appointed, shall continue to serve until a successor is elected or appointed and confirmed by the senate. (i) Of the nine members appointed by the governor, no more than five members shall be from the same political party. (j) For the purposes of this section, "full-time student" means the same as it does in the respective institutions. (2) (a) Whenever any law of this state refers to the state board of agriculture, it shall be taken to refer to the board of governors of the Colorado state university system. The legal effect of any statute heretofore designating the board of governors of the Colorado state university system by any other name, or property rights heretofore acquired and obligations heretofore incurred under any other name, shall not be impaired. s state refers to the state board of agriculture, it shall be taken to refer to the board of governors of the Colorado state university system. The legal effect of any statute heretofore designating the board of governors of the Colorado state university system by any other name, or property rights heretofore acquired and obligations heretofore incurred under any other name, shall not be impaired. (b) The revisor of statutes is authorized to make such changes in other provisions of the statutes as may be necessary to conform such provisions to the change of name of the board specified in subsection (1) of this section.

C.R.S. § 23-30-102 Board body corporate - powers relating to real and personal property

23-30-102. Board body corporate - powers relating to real and personal property. (1) The board of governors of the Colorado state university system is a body corporate, capable in law of suing and being sued; of taking, holding, acquiring, exchanging, selling, and determining the uses of personal property and real estate, or any interest therein, the ownership of which is vested in the board of governors of the Colorado state university system or the entities governed by it; of contracting and being contracted with; of having and using a corporate seal; having duties and powers to control, manage, and direct the fiscal and all other affairs of the Colorado state university system and the entities it governs; and of causing to be done all things necessary to carry out the provisions of this article. (1.5) The board of governors of the Colorado state university system shall report all sales, leases, or exchanges of real property to the Colorado commission on higher education. (2) The board of governors of the Colorado state university system has the power to lease personal property, the ownership of which is vested in the Colorado state university system, or on behalf of any entity governed by it, for a term not to exceed eighty years to state or federal governmental agencies and to persons or corporations, public or private. (2.5) Subject to such reviews and approvals of state agencies as are required by law, the board of governors of the Colorado state university system has the power to sell, lease, or exchange real property, or any interest therein, including any mineral rights, the ownership of which is vested in the board of governors of the Colorado state university system or on behalf of any entity governed by it. All moneys which arise from the sale, lease, or exchange of said real property, or any interest therein, and all funds transferred pursuant to this subsection (2.5), together with any interest arising from the investment of said moneys and funds, shall be under the exclusive control of the board of governors of the Colorado state university system. The state treasurer is instructed to turn over to the board of governors of the Colorado state university system all the moneys, warrants, bonds, and other securities of any nature, and any interest earned thereon, that have come from the sale, lease, or exchange of said real property, or any interest therein, including any mineral rights. (3) The board of governors of the Colorado state university system has the power to lease any real property or any interest therein owned by it on behalf of any entity governed by it for mineral exploration, development, and production purposes, upon such terms and conditions as may be prescribed and contracted by the board in the exercise of its best judgment as being in the best interests of said entity. Any lease of mineral rights shall be for a term not to exceed ten years and so long thereafter as minerals are produced and shall provide for a royalty of not less than the royalty for current commercial agreements which are generally accepted as fair royalty returns, which royalty may be reduced proportionately under an appropriate provision in the lease if the interest in said board is less than a full interest in the land or mineral rights in the land described in the lease. All royalties received under lease agreements made pursuant to the authority of this section shall be remitted by the board of governors of the Colorado state university system to the state treasurer for deposit in the general fund under an appropriate provision in the lease if the interest in said board is less than a full interest in the land or mineral rights in the land described in the lease. All royalties received under lease agreements made pursuant to the authority of this section shall be remitted by the board of governors of the Colorado state university system to the state treasurer for deposit in the general fund. Whenever, in the opinion of the board and because of the size, shape, or current use of any tract of land owned by said board on behalf of any entity governed by it, any lease of such tract provides that no mineral development or production be conducted on the land covered thereby, such lease shall be for a term not to exceed ten years and so long thereafter as the board may share in royalties payable on account of the production of minerals from lands adjacent to such tract so leased. (4) Whenever deemed by the board of governors of the Colorado state university system to be in the best interests of any entity governed by it, the board may enter into a unit agreement on behalf of the entity, which unit agreement may provide for the pooling, unitization, or consolidation of acreage covered by any oil and gas lease executed by the board with other acreage for oil and gas exploration, development, and production purposes and also provide for the apportionment or allocation of royalties among the separate tracts of land included in the unit or pooling agreement on an acreage or other equitable basis, and the board may change, by such agreement and with the consent of the lessee under the lease, any or all of the provisions of any lease issued by it, including the term of years for which the lease was originally granted, in order to conform the lease to the terms and provisions of the unit or pooling agreement and to facilitate the efficient and economic production of oil and gas from the lands subject to such agreement. (5) The leasing of real property or any interest therein held by the board of governors of the Colorado state university system under the provisions of this section shall not be deemed to be a sale of such property. (6) The board of governors of the Colorado state university system has the power to exchange real property or any interest therein owned by the board on behalf of any entity governed by it for lands or interests in lands which the board, in the exercise of its best judgment, believes to be in the best interests of said entity in the furtherance of its programs. (7) The authority of the board of governors of the Colorado state university system to execute oil and gas or other mineral leases of lands owned by the board prior to June 3, 1977, is hereby confirmed and acknowledged, and no such lease heretofore executed by the board shall be invalid for want of such authority.

C.R.S. § 23-30-103 Vacancies - compensation

23-30-103. Vacancies - compensation. Any vacancy in the office of any member of the board of governors of the Colorado state university system appointed by the governor caused by death, resignation, or removal from the state may be filled by a majority of the voting members. Any vacancy in the elected office on the board shall be filled by reelection for the unexpired term. The members of the board shall receive no compensation for their services but may be allowed reimbursement for expenses incurred that are reasonable, necessary, and directly related to an individual's duties as a board member upon presenting an itemized bill for the same.

C.R.S. § 23-30-104 Meetings of board

23-30-104. Meetings of board. The board shall meet at the Colorado state university twice annually and may meet at other times and places at the call of the chair who has the power in case of emergency to call special meetings of the board. The chair, with the consent of the board, shall annually set the schedule for regular board meetings. Upon the written request of any three members of the board, it is the duty of the chair of the board to call a special meeting thereof at such time and place as shall be designated in the written request therefor. A quorum of the board is a majority of voting members of the board.

C.R.S. § 23-30-105 Election of officers - terms

23-30-105. Election of officers - terms. (1) The board of governors of the Colorado state university system shall elect from its membership a chair and a vice-chair and also from its membership or from outside its membership a secretary and a treasurer, all of which said officers shall hold the office to which they are chosen for a period of two years from the date of election and until their successors are duly elected and qualified. The secretary shall give bond in an amount deemed sufficient by the board and discharge all the duties of said office in accordance with section 23-30-107. The treasurer shall give bond in an amount deemed sufficient by the board and safely keep and account for all moneys received by the treasurer and pay the same out only on warrants of the board of governors of the Colorado state university system, signed by its chair and countersigned by its chief financial officer in accordance with section 23-30-108. The board of governors may waive the bond requirements set forth in this subsection (1) and in lieu thereof utilize all applicable governmental insurance coverage. (2) Repealed.

C.R.S. § 23-30-106 Board of governors of the Colorado state university system fund - creation - control - use

23-30-106. Board of governors of the Colorado state university system fund - creation - control - use. (1) There is hereby created in the state treasury the board of governors of the Colorado state university system fund which is under the control of and administered by the board of governors of the Colorado state university system in accordance with the provisions of this article. The board of governors has authority and responsibility for all moneys of the board of governors and any entity governed by it. The board of governors shall designate, pursuant to its constitutional and statutory authority, those moneys received or acquired by the board of governors of the Colorado state university system or any of the entities it governs, whether by appropriation, grant, contract, or gift, by sale or lease of surplus real or personal property, or by any other means, whose disposition is not otherwise provided for by law, that shall be credited to the fund. All interest derived from the deposit and investment of moneys in the fund shall be credited to the fund. The moneys in the fund are hereby continuously appropriated to the board of governors of the Colorado state university system and shall remain in the fund under the control of the board of governors and shall not be transferred or revert to the general fund of the state at the end of any fiscal year. (2) The moneys in the board of governors of the Colorado state university system fund shall be used by the board of governors of the Colorado state university system for the payment of salaries and operating expenses of the board and the entities it governs and for the payment of any other expenses incurred by the board and the entities it governs in carrying out its statutory powers and duties. (3) Moneys in the board of governors of the Colorado state university system fund which are not needed for immediate use by the board of governors of the Colorado state university system may be invested by the state treasurer in investments authorized by sections 24-36-109, 24-36-112, and 24-36-113, C.R.S. The board shall determine the amount of moneys in the fund which may be invested and shall notify the state treasurer in writing of such amount. (4) If the board of governors votes to invest moneys pursuant to sections 23-30-121 and 23-30-122, the board of governors shall establish an investment advisory committee consisting of at least five members to make recommendations to the board of governors regarding investments. The investment advisory committee shall include, at a minimum, the treasurer of the Colorado state university system, a member of the board of governors, and three representatives of the financial community.

C.R.S. § 23-30-107 Duties of secretary

23-30-107. Duties of secretary. It is the duty of the secretary to keep a record of the transactions of the board of governors of the Colorado state university system and keep and file all reports that may be required at any time, which shall be open at all times to the inspection of any citizen of the state. The secretary shall also have the custody of all books, papers, documents, and other property which may be deposited in the secretary's office.

C.R.S. § 23-30-108 Duties of treasurer - financial instruments signed by whom - accounts

23-30-108. Duties of treasurer - financial instruments signed by whom - accounts. (1) The treasurer of the board shall keep a true and faithful account of all funds so received in separate accounts according to the source of the funds. The treasurer shall report on the funds to the board of governors of the Colorado state university system, including an annual report at the close of the fiscal year and other reports as the board may require. The duties of the treasurer may, upon approval by the board, be delegated to the chief financial officer of the Colorado state university system. (2) Warrants, checks, or other financial instruments shall be used to pay the expenses of the board of governors of the Colorado state university system and the entities it governs and shall be duly signed by the chair and countersigned by the treasurer or the chief financial officer appointed by the board for the Colorado state university system, or the presidents or their delegates.

C.R.S. § 23-30-109 Program to be made

23-30-109. Program to be made. The board of governors of the Colorado state university system and faculty shall, when deemed appropriate by the board, make programs of theoretical and practical instruction.

C.R.S. § 23-30-110 Duration of course

23-30-110. Duration of course. The board of governors of the Colorado state university system may institute courses of lectures for persons other than students of the institutions governed by the board under necessary rules and regulations.

C.R.S. § 23-30-111 Academic year - term - suspension

23-30-111. Academic year - term - suspension. The academic year may be divided into such terms by the board of governors of the Colorado state university system as in their judgment will best secure the objects for which the universities governed by the board were founded. The board at any time may temporarily suspend a university in case of fire, the prevalence of fatal diseases, or other unforeseen calamity.

C.R.S. § 23-30-112 Tuition

23-30-112. Tuition. (1) The board of governors of the Colorado state university system shall fix tuition in accordance with the level of cash fund appropriations set by the general assembly for the entities it governs pursuant to section 23-1-104 (1)(b)(I). The board may discriminate in regard to tuition between students from this state and students from other states. (2) Repealed.

C.R.S. § 23-30-113 Board's personnel powers

23-30-113. Board's personnel powers. The board of governors of the Colorado state university system has authority over all personnel matters relating to the system and the institutions and entities it governs. The board may delegate all or part of its powers over personnel matters in accordance with section 23-5-117.

C.R.S. § 23-30-114 Board to choose chancellor and certain staff

23-30-114. Board to choose chancellor and certain staff. (1) It is the duty of the board of governors of the Colorado state university system to choose: (a) A chancellor of the Colorado state university system, who shall serve as the chief executive officer of the system; and (b) Other system staff that report directly to the board.

C.R.S. § 23-30-115 Chancellor to choose certain staff

23-30-115. Chancellor to choose certain staff. Pursuant to section 23-30-113, the board of governors of the Colorado state university system may delegate to the chancellor of the Colorado state university system the power to choose such personnel as may be needed as system staff, which personnel shall report directly to the chancellor.

C.R.S. § 23-30-116 Board to choose presidents

23-30-116. Board to choose presidents. It is the duty of the board of governors of the Colorado state university system to choose the presidents of the institutions it governs. In case of a vacancy in an office of president, the board shall appoint an interim president who shall perform the duties of the office until the board selects a president.

C.R.S. § 23-30-117 Presidents to choose faculty and staff

23-30-117. Presidents to choose faculty and staff. Pursuant to section 23-30-113, the board of governors of the Colorado state university system may delegate to the presidents of the institutions it governs the power to choose such professors and staff as the necessities of their institutions require.

C.R.S. § 23-30-118 Board to fix salaries

23-30-118. Board to fix salaries. The board shall fix the salaries of the chancellor, presidents, and other system staff that report directly to the board and shall prescribe their respective duties. The board may delegate the authority to set salaries for professors and other employees of the system to the chancellor and presidents. The board may remove the chancellor, presidents, or subordinate officers and fill all vacancies.

C.R.S. § 23-30-119 Board to confer degrees

23-30-119. Board to confer degrees. The board, with the advice of the institutions it governs, shall confer such degrees or testimonials as are conferred by similar institutions.

C.R.S. § 23-30-120 Payment of expenses

23-30-120. Payment of expenses. The board of governors shall have general supervision, control, and direction of the funds and appropriations made thereto. All expenses of the board of governors of the Colorado state university system and the entities it governs shall be paid from funds received or maintained by the board or the entities it governs in accordance with the procedures listed in section 23-30-108.

C.R.S. § 23-30-121 Investments in consolidated funds

23-30-121. Investments in consolidated funds. Unless otherwise restrained by the terms of a will, trust agreement, or other instrument of gift, the board of governors of the Colorado state university system may hold investments in one or more consolidated investment funds in which the participating trusts or accounts have undivided interests.

C.R.S. § 23-30-122 Corporate stock in nominee authorized - report

23-30-122. Corporate stock in nominee authorized - report. (1) In order to facilitate the investment, reinvestment, sale, and disposition of corporate stocks, the board of governors of the Colorado state university system, referred to in this section as the "board", is authorized to hold certificates of stock in the name of a nominee of its selection without disclosing the fact that the certificates are held by the board or are held in a fiduciary capacity if: (a) The records of the board and all reports or accounts rendered by it clearly show the ownership of the stock by the board and the facts regarding the board's holdings; and (b) The nominee deposits with the board a signed statement showing the trust ownership, endorses the stock certificate in blank, and does not have possession of or access to the stock certificate except under the immediate supervision of the treasurer of the Colorado state university system or another person that the board has designated. (2) The board shall maintain a list of certificates of stock held in the names of nominees pursuant to this section and shall make the list available for public inspection during normal business hours. (3) Notwithstanding section 24-1-136 (11)(a)(I), the board shall report to the joint budget committee of the general assembly at each regular session regarding the investments made and the earnings or losses derived therefrom under the provisions of this section and section 23-30-121. The report shall include information indicating the extent to which the investment managers hired by the board have achieved or failed to achieve the performance benchmarks established pursuant to section 23-30-123 (1)(b).

C.R.S. § 23-30-123 Investment policy - fiduciary responsibility - annual financial statements

23-30-123. Investment policy - fiduciary responsibility - annual financial statements. (1) If the board of governors votes to invest assets of the Colorado state university system pursuant to sections 23-30-121 and 23-30-122, the board shall develop and annually review a written investment policy for the Colorado state university system, which policy shall include: (a) An acknowledgment by the board of governors of the board's fiduciary responsibility with respect to oversight of the investment policy of the system; and (b) The establishment of performance benchmarks for each investment manager hired by the board of governors pursuant to sections 23-30-121 and 23-30-122. (2) In selecting investment managers for the purposes of this section, the board of governors shall use an open and competitive process. (3) If the board of governors votes to invest assets of the Colorado state university system pursuant to sections 23-30-121 and 23-30-122, notwithstanding section 24-1-136 (11)(a)(I), the board shall require annual financial statements to be submitted to the board of governors, the state treasurer, the state auditor, and the joint budget committee of the general assembly. The financial statements shall include, at a minimum, information concerning investment income, gains, and losses, if any, of the Colorado state university system. The financial statements shall report the performance of investments on both a gross-of-fee and a net-of-fee basis. (4) If the board of governors votes to invest moneys pursuant to sections 23-20-121 and 23-20-122, the board: (a) Shall ensure that, at all times, liquid investment assets remain at a level sufficient to pay for all budgeted, outstanding operational obligations and expenses occurring within the current fiscal year; and (b) Repealed. (5) The Colorado state university system shall not request from the general assembly any general fund appropriations to replace any losses incurred due to investment activities conducted by the board of governors pursuant to sections 23-30-121 and 23-30-122.

C.R.S. § 23-30-124 Online university established - role and mission

23-30-124. Online university established - role and mission. (Repealed)

Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://leg.colorado.gov/sites/default/files/images/olls/crs2024-title-23.docxFetched: 10/6/2026