(1) The secretary of state may solicit and accept gifts, grants, conveyances, bequests, and devises of real or personal property, or both, in trust or otherwise, and sell, lease, exchange, invest, or expend these donations or the proceeds, rents, profits, and income from the donations except as limited by the donor's terms.
(2) Moneys received under this section may be used only for the following purposes:
(a) Conducting the Washington state legacy project;
(b) Archival activities;
(c) Washington state library activities;
(d) Development, construction, and operation of the Washington state library-archives building; and
(e) Donation of Washington state flags.
(3)(a) Moneys received under subsection (2)(a) through (c) of this section must be deposited in the Washington state legacy project, state library, and archives account established in RCW
43.07.380.
(b) Moneys received under subsection (2)(d) of this section must be deposited in the Washington state library-archives building account created in RCW
43.07.410.
(c) Moneys received under subsection (2)(e) of this section must be deposited in the Washington state flag account created in RCW
43.07.388.
(4) The secretary of state shall adopt rules to govern and protect the receipt and expenditure of the proceeds.