1. Manage, control, maintain, and operate the Museum, including its contents, furnishings, grounds funds, property, and endowments;

2. Charge for admission to the Museum;

3. Employ a director, who shall be the chief executive officer of the Museum, and such persons as may be necessary to manage, control, maintain, and operate the Museum;

4. Consistent with subdivision 15 of § 2.2-2905, suspend and remove employees;

5. Determine which works of art shall be kept, housed, or exhibited in the Museum;

6. Acquire by purchase, gift, loan, or otherwise works of art and exchange or sell such works if not inconsistent with the terms of the purchase, gift, loan, or other acquisition;

7. Enter into agreements with organizations interested in art;

8. Adopt a seal;

9. Stimulate and assist in the formation of new organizations;

10. Do such other things as it deems proper to promote art education throughout the Commonwealth;

11. Receive and administer on behalf of the Commonwealth gifts, bequests, and devises of real and personal property for the endowment of the Museum or any special purpose designated by the donor;

12. Change the form of investment of any funds, securities, or other property, real or personal, provided that the form is not inconsistent with the terms of the instrument under which the property was acquired. The trustees may sell, grant, and convey any such property but, in the case of real property, only with the written consent of the Governor;

13. Confer the honorary degree of patron of arts on any person who has made an outstanding contribution to art, provided that no more than two such degrees shall be conferred in any calendar year; and

14. Adopt regulations to establish classes of membership in the Museum.