Your accreditation agency, I am sure, has a guidebook or handbook or some such publication that tells what they mean by college. Regardless of cultural uniqueness, this is a good place to start. I am certain that they talk about at least four components of a healthy college Common Ground. Whether you do the charter or sanction or whatever is immaterial here because this is a legal document that says you exist and that you have the authority to grant degrees and do other things that colleges do. This might require a separate approval from your state.
North Central requires that degrees be granted.
Chief Executive Officer who is in overall charge of operating the institution of higher education. It is important, however, that this person be designated as the CEO of the college in its official documentation. The usual title is president but if there is a more culturally-appropriate term, that can be used as long as it is clear that this person is the one who handles the executive functions of the College. This is important in that the college needs to be in financial as well as all other control of its own affairs. This is important here because of the history of your regions.