Okla. Stat. tit. 70, § 70-3206

As provided in Article XIII-A of the Constitution of Oklahoma,

the State Regents shall constitute a coordinating board of control

for all state educational institutions, with the following specific

powers:

(a) It shall prescribe standards of higher education applicable

to each institution.

(b) It shall determine the functions and courses of study in

each of the institutions to conform to the standards prescribed.

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(c) It shall grant degrees and other forms of academic

recognition for completion of the prescribed courses in all of such

institutions.

(d) It shall recommend to the State Legislature the budget

allocations to each institution.

(e) It shall have the power to recommend to the Legislature

proposed fees for all of such institutions, and any such fees shall

be effective only within the limits prescribed by the Legislature,

after taking due cognizance of expressed legislative intent.

(f) It shall allocate funds to each institution according to

its needs and functions from appropriations made by the Legislature.

(g) It may coordinate private, denominational and other

institutions of higher learning with the State System under

regulations set forth by the State Regents.

Among other powers and duties, the State Regents shall:

(h) Prescribe standards for admission to, retention in, and

graduation from state educational institutions.

(i) Accept federal funds and grants and use the same in

accordance with federal requirements; and accept and disburse

grants, gifts, devises, bequests and other monies and property from

foundations, corporations and individuals; and establish, award and

disburse scholarships and scholarship funds and rewards for merit

from any funds available for such purpose.

(j) Allocate revolving and other non-state-appropriated

educational and general funds.

(k) Transfer from one institution to another any property

belonging to such institution when no longer needed by it and when

needed by another institution to accomplish its functions.

(l) Prepare and publish annually a report to the Governor, the

Legislature, and institutions, setting forth the progress, needs,

and recommendations of state educational institutions and of the

State Regents; conduct studies, surveys and research projects to

gather information about the needs of state educational institutions

and make such additional reports and recommendations as it deems

necessary or as the Governor or the Legislature may direct, and

publish such information obtained as may be considered worthy of

dissemination.

(m) Any monies which it is authorized to invest shall be

invested with the care, skill, prudence, and diligence under the

circumstances then prevailing that a prudent person acting in a like

capacity and familiar with such matters would use in the conduct of

an enterprise of a like character and with like aims.

(n) Issue, on behalf of institutions within The Oklahoma State

System of Higher Education, other than the University of Oklahoma

and Oklahoma State University, and with the powers enumerated by

this act, its obligations for purposes of such capital projects as

the Regents may deem to be proper for the benefit of such

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institutions. The obligations issued pursuant to the authority of

this paragraph shall be part of a comprehensive program for capital

maintenance of such institutions and the obligations shall be

special and limited obligations of the Oklahoma State Regents for

Higher Education and shall not constitute general obligations of the

State of Oklahoma.

(o) Exercise all powers necessary or convenient to accomplish

the purposes and objectives of Article XIII-A of the Constitution of

Oklahoma.