The University of South Dakota (USD), the state’s oldest university, was founded in 1862 and classes began in 1882. Located in Vermillion, South Dakota, USD is home to South Dakota's only medical school and law school. USD is governed by the South Dakota Board of Regents, and its current president is Jim Abbott. The university has been accredited by the North Central Association of College and Schools since 1913. The University of South Dakota was founded in 1862 by the Dakota Territorial Legislature. It is the state's oldest university, and is one of six universities governed by the South Dakota Board of Regents. USD has been accredited by the Higher Learning Commission of the North Central Association of Colleges and Schools since 1913 and is an active member of the Association of Public and Land-Grant Universities. The school houses the state's only law and medical schools and the lone College of Fine Arts. USD is also home to the state's oldest and largest political science department. Within the program is the Farber Fund, named for storied university professor emeritus Dr. William O.