§ 21-17-203 — To be body corporate; powers, duties and functions generally

The board of trustees and their successors in office constitute
a body corporate by the name of "the trustees of the University
of Wyoming". They possess all the powers necessary or
convenient to accomplish the objects and perform the duties
prescribed by law, and shall have custody of the books, records,
buildings and all other property of the university. The board
shall elect a chairman, secretary and treasurer, who shall
perform the duties prescribed in the bylaws of the board. The
treasurer shall execute a bond, with approved sureties in double
the sum likely to come into his hands, for the faithful
discharge of his duties. The term of office of board officers,
their duties severally and the times for holding meetings shall
be fixed in the bylaws of the board. A majority of the board
constitutes a quorum for the transaction of business but a less
number may adjourn from time to time, and all routine business
may be entrusted to an executive committee of no fewer than
three (3) members subject to such conditions as the bylaws of
the board prescribe. The board may from time to time appoint
and authorize a person to examine and approve for payment all
legal claims against the corporation. The person shall give
bond with surety approved by the board, payable to the state of
Wyoming in such sum as the board may fix, conditioned for the
faithful performance of his duties. A certificate of
appointment signed by the chairman and secretary of the board
and the bond shall be filed with the state auditor. At each
meeting of the board all action taken by the person so appointed
subsequent to the immediately preceding board meeting shall be
submitted to the board for its approval or disapproval. The
actual and necessary traveling expenses of nonresident members
in attending the annual meeting of the board may be audited by
the auditing committee thereof and paid by warrant on the
treasurer out of the general fund of the university.