(a) All records, papers, archives, and historical material at any time in the possession of the Arkansas State Archives, excepting such as it may have on loan, shall be and remain the property of the State of Arkansas. It shall also be the function, power, and duty of the Arkansas State Archives to:

(1) Receive, classify, and preserve, through the making of photographic copies or by other means, all official archives of Arkansas, its counties, its municipalities, and its other subdivisions, which may come either permanently or temporarily into the Arkansas State Archives's custody;

(2) Collect, classify, and preserve, through the making of photographic copies or by other means, all records, manuscripts, maps, diaries, letters, war service records, journals, and papers of historical value, pertaining to Arkansas and Arkansans;

(3) Collect and preserve, through the making of photographic copies or by other means, all files of such Arkansas newspapers as it may acquire either permanently or temporarily;

(4) Collect and preserve portraits, photographs, sketches, drawings, and other likenesses of eminent Arkansans, historic places, houses, buildings, and scenes in Arkansas;

(5) Select and publish any state papers and other source material of Arkansas history it shall deem appropriate and its funds will permit;

(6) Build up and maintain at its headquarters a reference library of the source material of Arkansas history;

(7) Establish and maintain at its headquarters any permanent or temporary displays of historic relics and other articles and objects of historic interest, which it shall determine to be desirable or feasible; and

(8) Ascertain the location of battlefields within the state on which battles were fought in the War Between the States, prepare data as to the troops employed in such engagements, ascertain which battlefields should be marked by suitable markers, accept designs for the markers, and, within the limit of funds available for the purpose, acquire and place markers in suitable positions on those battlefields, subject, in each instance, to the approval of the owners of the land.

(b) The Arkansas State Archives may:

(1) Adopt and use a seal;

(2) Destroy, exchange, or otherwise dispose of any materials in its possession, except borrowed materials, that it may find to be surplus to its needs;

(3)

(A) Establish and make reasonable charges for furnishing research services, archival services, or copies of materials in its possession.

(B) The funds collected shall be deposited to the credit of the Arkansas State Archive's account in a bank and from time to time withdrawn for the maintenance and operation of the Arkansas State Archives;

(4)

(A) Receive and expend any moneys arising from grants, contributions, or gratuities, receive bequests or donations of real or personal property, convert into money any property that cannot be used in the form received, and expend the money for any of the functions performable by it.

(B) The Chief Fiscal Officer of the State shall prescribe rules for the handling of these moneys;

(5) Cooperate with, and receive the cooperation of, historical associations and other nonprofit organizations devoted to the history of this state;

(6) Contract and be contracted with; and

(7) Take other action not inconsistent with law that it considers necessary in the performance of any of its functions.