The board shall:

A. establish museum policy and determine the mission and direct the development of the museum subject to the approval of the secretary of cultural affairs;

B. exercise trusteeship over the collections of the museum; C. accept and hold title to all property for museum use;

D. acquire objects relating to farming and ranching of interest to the public and real property for museum use or benefit by purchase, donation or bequest;

E. adopt rules as appropriate governing:

(1)     the loan of objects and exhibits to qualified institutions and agencies for the purpose of exhibition;

(2)     gifts, donations or loans of exhibits or collection materials for the museum; (3)     the licensure of the museum’s intellectual property; and

(4)     other matters necessary to carry out the provisions of the Farm and Ranch Heritage Museum Act;

F. enter into leases with public or private agencies or organizations for the use of museum premises or facilities for periods of time that exceed forty-five days;

G. solicit funds or property for the purpose of developing, restoring and equipping the museum, its collections and its programs and for the purchase of objects for its collections and for the development of exhibits and other public programs;

H. cooperate with other agencies and political subdivisions of state, tribal and federal governments and private organizations and individuals to the extent necessary to establish and maintain the museum and its programs;

I. subject to other provisions of law and excepting temporary statewide initiatives of the secretary of cultural affairs, impose admission fees to the museum facilities and programs; and

J. review annually the performance of the director and report its findings to the secretary of cultural affairs.