1.  The Account for Historical Records is hereby created in the State General Fund to be administered by the State Library, Archives and Public Records Administrator. Money in the Account may be expended only for grants to promote and preserve historical recordkeeping and for carrying out the provisions of this chapter.

2.  All money received by the Board from any source must be deposited in the State Treasury to the credit of the Account.

3.  All claims against the Account must be paid as other claims against the State are paid.