(a) The Arkansas Soybean Promotion Board shall have power:
(1) To conduct plans, projects, or activities that are intended to strengthen the soybean industry's position in the marketplace;
(2) To report to the United Soybean Board the manner in which assessments are collected and the procedure utilized to ensure that assessments due are paid;
(3) To collect assessments paid on soybeans marketed within the state and to establish procedures for ensuring compliance with regard to the payment of such assessments; provided, that the Arkansas Soybean Promotion Board may designate the Secretary of the Department of Finance and Administration to collect assessments and ensure compliance with regard to the payment of such assessments, subject to such rules as may be promulgated by the Arkansas Soybean Promotion Board and as may be reasonably necessary to comply with the Soybean Promotion, Research and Consumer Information Act of 1990;
(4) To remit to the United Soybean Board any assessments paid under this subchapter and the Soybean Promotion, Research and Consumer Information Act of 1990, minus authorized credits and other required deductions, by the last day of the month following the month in which the assessment was paid, unless the United Soybean Board determines a different date for remittance of assessments;
(5) To pay refunds of assessments as required by the United States Secretary of Agriculture or as authorized by this subchapter and determined by the Arkansas Soybean Promotion Board;
(6) To establish escrow accounts to be held and administered as special fund accounts by the Treasurer of State, for the payment of refunds in such amounts and for such periods as required by the United States Secretary of Agriculture or as authorized by this subchapter and determined by the Arkansas Soybean Promotion Board; provided, that interest from such accounts shall accrue to the Arkansas Soybean Promotion Board to be used for authorized activities;
(7) To furnish the United Soybean Board with an annual report by a certified public accountant or an authorized state agency of all funds remitted to the United Soybean Board;
(8) To receive and certify petitions as provided in § 2-20-406(b)(3) and to conduct a referendum election or elections under this subchapter or the Soybean Promotion, Research and Consumer Information Act of 1990;
(9) To exempt by resolution a class of persons who purchase one thousand (1,000) or fewer bushels of soybeans in any calendar year from the assessment imposed by § 2-20-406(b)(1);
(10) To contract with the United Soybean Board or other persons to implement plans or projects under this subchapter and the Soybean Promotion, Research and Consumer Information Act of 1990; and
(11) To take such further action as may be necessary or appropriate to comply with and to administer this subchapter and the Soybean Promotion, Research and Consumer Information Act of 1990.
(b) The Arkansas Soybean Promotion Board shall not use funds collected or received under this subchapter or the Soybean Promotion, Research and Consumer Information Act of 1990:
(1) To fund plans or projects which make use of any unfair or deceptive acts or practices with respect to the quality, value, or use of any product that competes with soybeans or soybean products; or
(2) To influence any action or policy of the United States Government, any foreign or state government, or any political subdivision thereof; provided, however, that this subdivision (b)(2) shall not apply to:
(A) The communication to appropriate government officials of information relating to the conduct, implementation, or results of promotion, research, consumer information, and industry information;
(B) Any action designed to market soybeans or soybean products directly to a foreign government or a political subdivision thereof; or
(C) The development and recommendation of amendments to this subchapter or the Soybean Promotion, Research and Consumer Information Act of 1990.