A.R.S. § 15-1625: General powers of board as body corporate

A. The Arizona board of regents is a body corporate with perpetual succession. The board has jurisdiction and control over the universities.

B. The board may:

1. Adopt a corporate seal.

2. Contract.

3. Sue and be sued.

4. Purchase, receive, hold, make and take leases and long-term leases of and sell real and personal property for the benefit of this state and for the use of the institutions under its jurisdiction.