The board shall retain the following responsibilities, all of which expressly are not delegated to the executive director:
  (1) initiation, settlement or defense of litigation and the retention of legal counsel in connection with litigation; provided that limited authority with respect to litigation is delegated to the executive director as set forth in §7.33(2) of this title (relating to Delegated Responsibilities);
  (2) adoption of rules relating to the program;
  (3) development of investment guidelines;
  (4) limitation of enrollments in the program;
  (5) approval of contract prices;
  (6) negotiation and execution of purchase, contracts, leases, lease purchases, licenses and agreements involving payments of equal to or more than the amount(s) stated in Government Code, §2254.021(2);
  (7) approval of agreements or other transactions with the United States, state agencies, general academic teaching institutions, two-year institutions of higher education, and local governments;
  (8) approval of contracts with persons or entities to market and enroll persons in the programs; and
  (9) all policy making responsibilities of general applicability, provided that the board may delegate policy making responsibility to the executive director where parameters have been adopted by the board to be followed by the executive director in the exercise of such responsibility.

Source Note: The provisions of this §7.21 adopted to be effective January 8, 1996, 20 TexReg 11124; amended to be effective August 27, 2008, 33 TexReg 6955