Greek vs. University Administration

I'm a member of Phi Delta Theta at the University of South Dakota. Our University has just passed a resolution that will require every fraternity on the campus to basically change the way all operations are conducted. We control our accounts currently through OMEGA FINANCIAL, with this new resolution we will be forced to go through the University. Every time we want to take money out of our account, we must go to the admin. building, fill out a form, and they will send us a check in "a couple days". We will also be forced to have a House Mother, a 2.5 in order to activate a new member, and numerous other requirements. If you want to view the complete listing..the website is www.usd.edu/student-life/orgs/greek/execsum.htm. First I would like to hear opinions on this, and second I want to know if the University can legally do something like this with giving the chapters absolutely no say in it. Thank you for all of you responses.