For purposes of exercising the specific powers granted in this part and carrying out the other purposes of this part, the fund may:
(1) Sue and be sued;
(2) Have a seal and alter it at will;
(3) Make, amend, and repeal rules relating to the conduct of the business of the fund;
(4) Enter into contracts relating to the administration of the fund;
(5) Rent, lease, buy, or sell property in its own name and may construct or repair buildings necessary to provide space for its operations;
(6) Declare a dividend when there is an excess of assets over liabilities, and minimum surplus requirements;
(7) Pay medical expenses, rehabilitation expenses, compensation due claimants of insured employers, pay salaries, and pay administrative and other expenses;
(8) Hire personnel and set salaries and compensation; and
(9) Perform all other functions and exercise all other powers of a domestic insurance company that are necessary, appropriate, or convenient to administer the fund.