(a) The state board of education is authorized and directed to establish a system of tenure for teachers in schools and institutions under its jurisdiction.

(b) The board shall promulgate and publish reasonable rules and regulations for the establishment of a tenure system for such teachers, and has the power to promulgate and publish the rules and regulations as are deemed reasonably necessary for the establishment of the tenure system, which shall include, but not be limited to, standards and requirements concerning:

(1) The minimum qualifications of teachers eligible for tenure;

(2) The types of tenure;

(3) Leaves of absence;

(4) Time of termination of tenure;

(5) Transfers within the system;

(6) Credit for time served in other school systems within the state;

(7) Grounds and procedures concerning suspensions and dismissals;

(8) Investigations;

(9) Suspensions pending investigations; and

(10) Other subjects deemed by the board to be reasonably related to teacher's tenure.

(c) The rules and regulations shall be adopted by a formal resolution by a majority of the membership, and the resolution shall be signed by a majority of the members of the state board of education as certified by the chair and attested by the executive secretary of the board, and otherwise they shall be approved and filed in the manner required by the Uniform Administrative Procedures Act, compiled in title 4, chapter 5.

(d) After giving written notice of charges against any teacher, the board shall hold a hearing in the same manner and shall have the same powers as provided in § 49-5-512; provided, that where §  49-5-512 refers to the director of schools, for the purpose of this part, reference shall be made to the chair of the state board of education.

(e) A teacher shall be entitled to a judicial review of the action of the board for the same purposes and in the same manner provided by § 49-5-513.

(f) As used in this section, “teacher” means any person employed by the state board of education in a full-time position as an administrative officer or teacher in a school or other educational institution except a college or university; provided, that “teacher,” does not apply to the principal or chief administrative officer of the school or institution.

(g) No teacher under this section shall be guaranteed continuity of employment in a particular assignment or position.