205 EXECUTION OF CONTRACTS AND OTHER DOCUMENTS

205.1 Except as otherwise specifically provided in this section or in this title, the President may execute on behalf of the University all contracts and other documents, including documents to solicit and accept pledges, gifts, and grants.

205.2 Notwithstanding any provision of this section to the contrary, the President may execute all documents necessary in the exercise of the President's duties when an emergency precludes prior submission to the Board; Provided, that in all cases the President shall submit to the Board within forty-eight (48) hours a written justification for actions taken, the impact, including fiscal, of the actions and a request for ratification of the action(s) by majority vote of the Board.

205.3 The President may provide for execution claims against debtors in bankruptcy, in receivership, or in liquidation, and against estates of deceased persons.

205.4 Specific authorization by the Board shall be required for the following documents or any transaction that would establish an exception to the University Rules as set forth in this subtitle:

1. (a) Any commitment for more than seven (7) years; or
2. (b) All Capital Procurements as presented in the Capital Budget on annual basis;
3. (c) Each transaction that would require any of the following:
4. (1) Modification of the financial plan in excess of the reprogramming authority delegated to the President;
5. (2) Modification of the Capital Budget; or
6. (3) Obligating the University to expenditures or costs for which there is no established funding source.
7. (d) Any contracts and change orders/modifications, other than those already approved in the Capital Budget, resulting in a commitment of greater than four million dollars (\$4,000,000) in a single fiscal year for any Capital Procurement; and
8. (e) Any commitment greater than one million dollars (\$1,000,000) in a single fiscal year for all other University Procurements.

205.5 Specific authorization by the Board shall be required for any of the following:

(a) Acceptance of any pledge or gift in excess of one million dollars ($ 1,000,000) in cash or estimated value;

(b) Agreements for the provision of employee group insurance benefits;

(c) Affiliation agreements involving direct financial obligations or commitments by the University to programs or projects not included in the financial plan;

(d) Applications for licenses to operate radio or television broadcast equipment; and

(e) Agreements under which the University assumes liability for the conduct of persons other than University officers, employees, agents, students, invitees, and guests. This restriction shall not apply to agreements under which the University assumes responsibility for the condition of property in its custody.

SOURCE: Final Rulemaking published at 40 DCR 3353 (May 21, 1993); as amended by Final Rulemaking published at 57 DCR 6156, 6159 (July 16, 2010); as amended by Final Rulemaking published at 59 DCR 13923 (November 30, 2012); as amended by Final Rulemaking published at 63 DCR 3767 (March 11, 2016).