A. The board shall:

1. Establish, operate, and maintain the Museum to commemorate the contributions of the pioneers and colonial frontiersmen and frontierswomen to the creation of this nation;

2. Employ an executive director and such assistants as may be required and confer such duties and responsibilities as determined necessary;

3. Adopt a flag, seal, and other emblems for use in connection with the Museum;

4. Establish a nonprofit corporation to develop and maintain public awareness of the Museum;

5. Receive and expend gifts, grants, and donations of any kind from whatever sources determined, including donations accepted by the American Frontier Culture Foundation on behalf of the Museum;

6. Adopt regulations and set fees concerning the use and visitation of properties under its control;

7. With the consent of the Governor, acquire by purchase, lease, gift, devise, or condemnation proceedings lands, property, and structures deemed necessary to the purpose of the Museum. The title to such acquired land and property shall be in the name of the Commonwealth. In the exercise of the power of eminent domain granted under this section, the Museum may proceed in the manner provided by Chapter 3 (§ 25.1-300 et seq.) of Title 25.1;

8. Convey by lease land and structures to any person, association, firm, or corporation, with the consent of the Governor, for such terms and on such conditions as the Museum may determine;

9. Enter into contracts to further the purpose of the Museum; and

10. Elect any past member of the board to the honorary position of trustee emeritus. Trustees emeriti shall serve as honorary members for life, shall not have voting privileges, and shall be elected in addition to those positions set forth in § 23.1-3202.

B. In addition to the powers granted by subsection A, the board may evaluate the significance and suitability of the furnishings, household items, and other objects acquired by purchase, gift, or donation with or for the Museum for the purpose of accurately presenting the means, tastes, and lifestyles of the people living during the era depicted by the Museum. The board may exchange or sell those furnishings, household items, and other objects that it determines to be of little or no significance or suitability for achieving the purpose or mission of the Museum as long as such disposition is not inconsistent with the terms of the acquisition of the relevant property. Sales of these items may be conducted by auction houses recognized for their expertise in the sale of such property.

C. Any furnishings, household goods, and other objects previously acquired by donation or purchase and the net proceeds of any sale of these items as provided in subsection B shall constitute a discrete fund of the Museum and shall be used solely for the acquisition of period furnishings, household goods, and other objects consistent with the purpose and mission of the Museum.

D. Donations to the Museum of any funds, securities, and any other property, real or personal, for use in accordance with its purpose and mission shall constitute endowments or unrestricted gifts for the purposes of § 23.1-101. The board may change the form of investment of any such funds, securities, or other property, real or personal, if the change in such form is not inconsistent with the terms of the instrument under which such property was acquired and may sell, grant, or convey any such property, except that any transfers of real property shall be made only with the consent of the Governor.

2000, c. 541, § 23-298; 2002, c. 129; 2003, c. 940; 2008, c. 242; 2016, c. 588.