(1) A commodity promotion board shall spend the proceeds of an assessment solely to finance a program of research, education, market development, marketing and advertising designed to promote the increased consumption, production, use and sale of agricultural commodities.
(2) A commodity promotion board shall not spend its funds in any manner for political purposes or to influence any legislative action or rulemaking process, either state or federal, or to fund the organizational or membership activities of any group, association or organization.
(3) The board may accept gifts and grants and shall invest any idle funds.
(4) The members of a commodity promotion board shall not be compensated, but shall be reimbursed travel expenses in accordance with the comprehensive travel regulations promulgated by the commissioner of finance and administration and approved by the attorney general and reporter.
(5) An annual report of its activities shall be filed with the commissioner on or before the date specified by the commissioner.