Before the vote, Powers told the regents that the school should be able to explore options, which he says could include staying in the Big 12.
Any move to a new conference would have to be submitted to the regents for final approval.
Regents at Oklahoma made a similar move earlier Monday, giving President David Boren the same decision-making authority.
Texas A&M has already announced that it plans to leave the Big 12 and pursue membership in the SEC.
