(a) The board shall elect a chair from among its members. The chair shall be a citizen of the state and an honorably discharged veteran of the United States armed forces. The chair shall serve a two-year term. A chair may be reelected; provided, that no person shall serve as chair for more than two (2) consecutive terms.

(b) The board shall also select other officers as the board finds necessary and appropriate. The positions are for a period of one (1) year, but members may be reelected to serve additional terms; provided, that no person shall serve for more than two (2) consecutive terms.

(c) The board, pursuant to applicable state and federal law, is hereby vested and charged with those powers and duties necessary and proper to enable it to fully and effectively carry out this chapter, including, but not limited to:

(1) The authority to determine the location of the Tennessee state veterans' homes. In selecting the sites, preference shall be given to publicly owned land. Land for the sites may be purchased only if suitable publicly owned land is not available;

(2) The duty to adopt written policies and procedures to govern its internal operations;

(3) The authority to acquire, in the name of the board, real or personal property or any interest therein, including rights or easements, on either a temporary or long-term basis by gift, purchase, transfer, foreclosure, lease or otherwise;

(4) The authority to hold, sell, assign, lease, rent, encumber, mortgage or otherwise dispose of any real or personal property, or any interest therein, or mortgage interest owned by it or in its control, custody or possession and release or relinquish any right, title, claim, lien, interest, easement or demand however acquired, including threat of foreclosure;

(5) The authority to incur debts, to borrow money, to issue debt instruments and to provide for the rights of the holders thereof;

(6) The authority to procure insurance against any loss in connection with its property and other assets in amounts and from insurers which it deems desirable;

(7) The authority to have employees authorized by the Tennessee state veterans' homes board solicit and receive bequests and donations for:

(A) The improvement of the general comfort and welfare of the members of the home or homes; or

(B) The future construction of a new home or homes;

(8) The authority to seek advice from the United Tennessee Veterans' Association (UTVA);

(9) The authority to seek assistance from the commissioner of finance and administration, the comptroller of the treasury, the state treasurer, and other state agencies;

(10) Do other acts necessary or convenient to exercise the powers granted or reasonably implied in this section;

(11) The authority to provide guidance to future administrators at state veterans' nursing homes based upon the collective institutional memory of the state veterans' homes board; and

(12) The authority to notify members of the general assembly and appropriate persons in the executive branch of potential problems in state veterans' nursing homes.