Powers and duties of the Board.

The management of the NSIIC shall be vested in the Board of Directors. The Board shall have the following powers and duties: (a) Be responsible for the general supervision of the NSIIC; (b) Review any grant or contract agreement to be made or entered into by the NSIIC and any financial assistance provided to the NSIIC; (c) Make the final decision, by majority vote, on whether or not to provide grants to an eligible entity in accordance with the strategic plan; (d) Develop and establish a budget plan and long-term operating plan to carry out the goals of the NSIIC; (e) Adopt, and amend as appropriate, bylaws as necessary for the proper management and functioning of the NSIIC; (f) Provide a system of organization to fix responsibility and promote efficiency in carrying out the functions of the NSIIC; (g) Appoint and establish compensation for an executive director, who will serve at the pleasure of the Board, to be the chief executive officer of the NSIIC; (h) Appoint other officers, attorneys, employees, and agents as necessary and set forth their respective duties and powers; (i) Delegate, by resolution, to the chairperson, the executive director, or any other officer or employee any function, power, or duty of the Board—other than voting on a grant, contract, agreement, budget, or annual strategic plan; and (j) Consult with the following entities to carry out this part: (1) State departments of agriculture; (2) Federal departments and agencies; (3) Nonprofit development corporations; (4) Colleges and universities; (5) Banking and other credit-related agencies; (6) Agriculture and agribusiness organizations, and (7) Regional planning and development organizations.