In 1923 when Stephen F. Austin State Teachers College opened, the governing body for SFA and other state colleges, such as those at Huntville, Commerce, and San Marcus, was the State Board of Regents.

In 1969, Governor Preston Smith signed a bill giving university status to SFA, Sam Houston, Southwest Texas, Sul Ross, and Angelo State. Later the same year, the legislature approved a separate Board of Regents for SFA. The nine member original panel appointed by Governor Smith were: Harold Bates, Douglas Bergman, Joe Bob Golden, Roy Maness, R.E. McGee, James I. Perkins, Sam Tanner, Lera Thomas, and Walter Todd.