The commission shall have the following powers and duties:
To formulate the policy of the department regarding marine resources within the jurisdiction of the department;
To enter into and authorize the executive director to execute contracts, grants and cooperative agreements with any public or private institution, federal or state agency or any subdivision thereof to carry out the duties of the commission;
To adopt, amend or repeal any rules and regulations necessary for the operation of the commission and the department necessary for the protection, conservation and propagation of seafood, and necessary for the management of commercial and recreational taking of seafood; and
To discharge other duties and powers as are necessary to implement state policy regarding marine resources.