According to KOCO, University of Oklahoma president David Baron gave SAE members until midnight to leave the campus premises. The chapter's building was vandalized late Sunday.
SAE's national office shut down its University of Oklahoma branch following the offensive video's circulation.
"We determined with no mental reservation whatsoever that this chapter needed to be closed immediately," SAE national president Bradley Cohen said in a statement.
SAE's mission purports to uphold the ideals of a "True Gentleman… whose conduct proceeds from good will" and "who thinks of the rights and feelings of others."
Sigma Alpha Epsilon celebrates its 159-year anniversary Monday.
The incident came on the heels of Sunday's commemoration of the March 8, 1965 civil rights demonstration in Selma, Alabama. US President Barack Obama, visiting the event, admitted race relations in the country remained fragile.
Late last year, protests erupted across the nation following the non-indictments of two white police officers in Ferguson, Missouri and New York City that murdered unarmed African-Americans.