Unless directly authorized to do so by the Board, state universities shall not do any of the following:

a.  enter into agreements, written or verbal or implied relating to private housing;

b.  give preference to any owner or operator of private housing;

c.  guarantee occupancy in or payments for private housing; or

d.  provide public funds for the supervision, maintenance or operation of private housing.

The President and Chief Executive Officer of the Board, upon the recommendation of the Director of Facilities, may approve on behalf of the Board any agreement relating to private housing that is for a term of less than one year.

For purposes of this section, “private housing” means privately-owned residential housing made available for university students’ or university employees’ use while attending or working for the university at the university’s main or branch campus.