[§304A-108]  Suits.  (a)  The university
may sue and be sued in its corporate name.  Notwithstanding any other law to
the contrary, all claims arising out of the acts or omissions of the university
or the members of its board of regents, its officers, or its employees,
including claims permitted against the State under chapter 661, part I, and
claims for torts permitted against the State under chapter 662, may be brought
only pursuant to this section and only against the university.  However, the
university shall be subject to suit only in the manner provided for suits
against the State, including section 661-11, and any liability incurred by the
university in such a suit shall be solely the liability of the university,
shall be payable solely from the moneys and property of the university, and
shall not constitute a general obligation of the State or be secured directly
or indirectly by the full faith and credit of the State or the general credit
of the State or by any revenue or taxes of the State.  All defenses available
to the State, as well as all limitations on actions against the State, shall be
applicable to the university.



(b)  The board of regents, upon the advice of
its attorney, may arbitrate, compromise, or settle any claim, action, or suit
brought against the university pursuant to this section.  Any claim compromised
or settled under this subsection shall be payable solely from the moneys and
property of the university and shall not constitute a general obligation of the
State or be secured directly or indirectly by the full faith and credit of the
State or the general credit of the State or by any revenue or taxes of the
State.  Nothing in this subsection precludes the board of regents from
requesting and securing legislative appropriations to fund the settlement of
any such claim or judgment against the university or its regents, officers,
employees, or agents.



(c)  Rights and remedies conferred by this
section shall be exclusive and shall not be construed to authorize any other
claim, suit, or action against the State.  In addition, a judgment, compromise,
or settlement in an action brought against the university under this section
shall constitute a complete bar to any action brought by the claimant, by
reason of the same subject matter, against the State or an officer or employee
of the university.



(d)  The university may purchase insurance to
cover any claims anticipated under this section. [L 2006, c 75, pt of §2]