Hi, I'm hoping someone can help me out with this. I've spent an hour trying to figure out how to set this up but can't seem to get it it, and it wasn't covered in the FAQ from what I could see.

What I'm trying to do is fairly simple (I think). Basically, I want create a user group between "member" and "administrator" in terms of authority, and allow only this group to access parts of the forums. Sort of like an exclusive "premium members only" section for people that aren't administrators, but deserve a place to converse that normal members can't access. Is it possible to set this up?

Thanks in advance for any aid you can give.

That would be possible, it basically means a moderator group.

Just make a new group.
https://help.forumotion.com/frequently-asked-questions-f5/organizing-groups-colors-in-legend-t10988.htm

Then give them permissions accordingly.

This topic may also be useful to you as it explains how to create restricted forums: https://help.forumotion.com/t38399-restricted-forums