(1) If the board employs an executive director, the executive director shall have the following powers and duties:

(a) To administer the policies of the board within the authority granted by the board;

(b) To supervise and direct all administrative, technical and investigative activities of the board;

(c) To organize the administrative units of the board in accordance with a plan adopted by the board and to alter that organizational plan and reassign responsibilities with approval of the board as deemed necessary to carry out the policies of the board;

(d) To recommend to the board appropriate studies and investigations and to carry out the approved recommendations;

(e) To issue, modify or revoke any orders under authority granted by the board;

(f) To enter into contracts, grants and cooperative agreements as approved by the board with any federal or state agency, any public or private institution or any other person to carry out this chapter;

(g) To receive, administer and account for any funds received by the board;

(h) To prepare and deliver to the Legislature and the Governor before January 1 of each year, and at any other times as may be required by the board, Legislature or Governor, a full report of the work of the board, including a detailed statement of revenues and expenditures of the board and any recommendations the board may have; and

(i) To discharge other powers, duties and responsibilities as directed or delegated by the board.

(2) The executive director shall give a surety bond satisfactory to the board, conditioned upon the faithful performance of the executive director’s duties. The premium on the bond shall be regarded as a proper and necessary expense of the board.

(3) If the board does not employ an executive director, the president of the board shall have the powers and duties provided in subsection (1) of this section.