The shall have the following duties:
(a) To meet not less than annually, and to organize and select from among its members a chairman and such other officers as may be necessary;
(b) To appoint from its members an executive committee whose membership shall equally reflect each of the different geographic regions in the in which is produced and representation on the , and to delegate to the committee authority to administer the terms and provisions of this subpart under the direction of the and within the policies determined by the ;
(c) To appoint or employ such as it may deem necessary and define the duties and determine the compensation of each;
(d) To review all programs that promote and on a brand or trade name basis that have requested certification pursuant to § 1150.153, and to recommend to the whether such request should be granted;
(e) To develop and submit to the for approval, , , and plans or projects resulting from or studies conducted either by the or others;
(f) To solicit, among other proposals, proposals that would increase the use of fluid and by the military and by in developing nations, and that would demonstrate the feasibility of converting surplus nonfat dry to casein for domestic and export use;
(g) To prepare and submit to the for approval, budgets on a basis of its anticipated expenses and disbursements in the administration of this subpart, including probable costs of , and plans or projects, and also including a general description of the proposed , and programs contemplated therein;
(h) To maintain such books and records, which shall be available to the for inspection and audit, and prepare and submit such reports from time to time to the as the may prescribe, and to make appropriate accounting with respect to the receipt and disbursement of all funds entrusted to it;
(i) With the approval of the , to enter into contracts or agreements with national, regional or State dairy and organizations or other organizations or entities for the development and conduct of activities authorized under §§ 1150.139 and 1150.161, and for the payment of the cost thereof with funds collected through assessments pursuant to § 1150.152. Any such contract or agreement shall provide that:
(1) The contractors shall develop and submit to the a plan or project together with a budgets or budget which shall show the estimated cost to be incurred for such plan or project;
(2) Any such plan or project shall become effective upon approval of the ; and
(3) The contracting party shall keep accurate records of all of its transactions and make periodic reports to the of activities conducted and an accounting for funds received and expended, and such other reports as the or the may require. The or employees of the may audit periodically the records of the contracting party;
(j) To prepare and make public, at least annually, a report of its activities carried out and an accounting for funds received and expended;
(k) To have an audit of its financial statements conducted by a certified public accountant in accordance with generally accepted auditing standards, at least once each and at such other times as the may request, and to submit a copy of each such audit report to the ;
(l) To give the the same notice of meetings of the , committees of the and advisory committees as is given to such or committee members in order that the , or a representative of the , may attend such meetings;
(m) To submit to the such information pursuant to this subpart as may be requested; and
(n) To encourage the coordination of programs of , and designed to strengthen the dairy industry's position in the marketplace and to maintain and expand:
(1) domestic markets and domestic uses for fluid and produced in the or imported into the ; and
(2) foreign markets and foreign uses for fluid and produced in the .