Section 23-13-19-1 - Body corporate and politic; appointment of faculty; powers and duties(a) Wabash College is a body corporate and politic that has perpetual succession.(b) The board of trustees of Wabash College shall have power to appoint a faculty in said college consisting of a president, professors, and tutors, as the necessities of the institution may demand. The faculty so appointed, by and with the approbation of the board of trustees, shall have power to grant and confer such degrees in the liberal arts and sciences as are usually granted and conferred in other colleges in the United States. However, no degrees shall be conferred, or diplomas granted, except to students who have acquired the same proficiency in the liberal arts and sciences as is customary in other colleges in the United States.(c) The board of trustees shall also have power to:(1) contract, and be contracted with;(2) acquire, hold, enjoy, and transfer property, real or personal, in their corporate capacity;(3) have and use a common seal, and alter the same at pleasure;(4) sue and be sued, plead and be impleaded, in any court of law or equity;(5) receive and accept any grant, gift, donation, bequest or conveyance, by any person, company, or corporation of any property, real or personal: and hold and enjoy and dispose of the same as may be deemed best for the interests of said college;(6) make, ordain, establish, and execute such bylaws, rules, and ordinances, not inconsistent with the Constitution and laws of the United States, or of this state, as they shall deem necessary for the welfare of said institution; and(7) do all other acts in pursuance thereof necessary for the prosperity of said college.(Formerly: Acts 1834, c.18, s.1.) As added by Acts1982 , P.L. 146, SEC.3.