(a) The board shall administer the College Savings Program in accordance with this article and 26 U.S.C. 529.
(b) The board shall offer and issue interests in the Savings Plan Trust to eligible members of the public.
(c) The board is authorized to take any lawful action necessary to effectuate the provisions of this article and successfully administer the program, subject to applicable state and federal law, including, but not limited to, the following:
(1) Adopt and amend bylaws;