The Director of the Nebraska State Historical Society:

(1) Shall establish a date, time, and location for an annual meeting of the society and promulgate such information;

(2) Shall set the fee for each class of membership in the society other than the general membership class;

(3) Shall collect, assemble, preserve, classify, and exhibit the following when appropriate and according to museum and archival standards: Any book; pamphlet; map; manuscript; newspaper; photograph; business record; personal paper; diary; architectural record; work of art; film; videotape; machine-readable record; museum, archaeological, or ethnographic specimens; and object regardless of physical form that serves to illustrate the history of Nebraska, the Great Plains, or western America;

(4) Shall ensure that the collections and properties of the society are maintained in good order and repair;

(5) Shall oversee gifts made to the society in the following manner:

(a) Any gift that is accepted by the Director of the Nebraska State Historical Society shall be accepted, received, and administered in the name of the society. For purposes of this subdivision (5), gift includes any donation, property, security, bequest, or legacy;

(b) The Director of the Nebraska State Historical Society may accept, receive, and administer any gift made to the society without the prior approval of the Governor if such gift:

(i) Has a monetary value of less than ten thousand dollars; and

(ii) Is not real property;

(c) The Director of the Nebraska State Historical Society shall not accept, receive, or administer any gift made to the society without the prior approval of the Governor if such gift:

(i) Has a monetary value of ten thousand dollars or more; or

(ii) Is real property; and

(d) The Director of the Nebraska State Historical Society shall electronically submit a report to the Governor and the Clerk of the Legislature on or before January 15 of each year. Such report shall include:

(i) For each gift described in subdivision (5)(b) of this section that was made to the society, a description of the gift, if the gift was accepted by the director, and the monetary value of the gift; and

(ii) For each gift described in subdivision (5)(c) of this section that was made to the society, a description of the gift, if the Governor approved the acceptance of the gift, if the gift was accepted by the director, and the monetary value of the gift;

(6) May enter into any contract necessary to effectuate any purpose of the society;

(7) May sell, exchange, or otherwise dispose of books, museum objects, or other property in the society's collections that are surplus, duplicate, or outside the scope of the society's mission or that lack research, educational, or exhibit value on account of damage or insufficient documentation. Any money received pursuant to this subdivision shall be remitted to the State Treasurer for credit to the Nebraska State Historical Society Collections Trust Fund;

(8) Shall interpret and disseminate the results of any research conducted by the society. Such dissemination methods may include any method that will promote the study, understanding, and appreciation of Nebraska history;

(9) Shall adopt and promulgate rules and regulations to carry out the purposes of the society;

(10) May employ any personnel necessary to aid the Director of the Nebraska State Historical Society in carrying out the purposes of the society; and

(11) Shall ensure that the study, assemblage, maintenance, and presentation of exhibits, objects, manuscripts, and other items of historical materials are performed in such a manner that stimulates, encourages, and protects the freedom of expression and academic freedom essential for the appreciation and understanding of the history of Nebraska.