(1) The board is established for the purposes of:
(a) assisting the trust in providing economic aid to the tobacco growers and tobacco quota holders within the State in a manner consistent with provisions of the trust agreement executed by the State for the trust such as:
(i) identifying the tobacco growers and tobacco quota holders of the State that shall receive a payment from the trust;
(ii) determining the respective amount of payment the eligible tobacco farmer and tobacco quota holder shall receive; and
(iii) submitting this information to the trustees of the trust;
(b) carrying out any other responsibilities that assist the trust agreement and are consistent with state law and the purposes of this article.
(2) The board has the power to do any and all lawful acts that may be necessary for the furtherance and accomplishments of the purposes of this board.