The director may authorize an advisory board to do all of the following:
(a) Enter into contracts or agreements.
(b) Employ necessary personnel, including attorneys engaged in the private practice of the law, and fix their compensation and terms of employment.
(c) Incur such expenses, to be paid from moneys which are collected as provided in Article 10 (commencing with Section 58921), as the director may deem necessary and proper to enable the advisory board properly to perform its duties as authorized by this chapter.
(d) Receive, invest, and disburse funds pursuant to the provisions of Article 10 (commencing with Section 58921).