In managing special and revolving funds under its control, the board of regents shall ensure that:

1. (1) The purposes for which special and revolving funds are expended, encumbered, or transferred benefit those upon whom fees and charges are imposed through these funds; and
2. (2) Fees and charges are fair and equitable with respect to the level and quality of services provided to those upon whom fees and charges are imposed.

[L 2006, c 75, pt of §2]