Neb. Rev. Stat. § 85-302: Board of trustees; officers; body corporate; audit.

The members of the Board of Trustees of the Nebraska State Colleges shall annually elect a president and vice president from among their own number. The board shall constitute a body corporate to be known as the Board of Trustees of the Nebraska State Colleges, and as such may sue and be sued, and may make and use a common seal and alter the same at its pleasure. The board shall also select a secretary who shall keep an exact and detailed account of the activities of the board. The State Treasurer shall be treasurer of the board by virtue of the office. A complete and comprehensive annual audit shall be made of the books, accounts, funds, records, and affairs of the board and each of the state colleges.