This section shall govern the solicitation, acceptance, and disposition of all gifts and donations, whether of cash, negotiable instruments, or property, in connection with the centennial or other events or programs under the purview of the commission by statute or executive order.

(1) All proposed gifts and donations to the commission shall be approved or rejected by the commission.

(2) All proposals for gifts or donations shall be presented to the commission in writing, explaining the intended purpose and use of such gifts or donations, and any restrictions or obligations to be assumed by the commission.

(3) Restricted donations shall be used only for the purpose specified by the donor.

(4) Nonmonetary gifts shall be the property of the state and shall be inventoried and placed in an appropriate repository or disposed of as provided by law or as agreed by the donor no later than December 31, 1993.

(5) No commissioner or person or contractor employed by the commission may serve as an officer or director in any organization making a donation unless disclosed to and approved by the commission.

(6) Donations shall not be used for supplementation of salary or travel expenses of any commissioner or employee of the commission.

(7) The commission shall not consider any donations from any manufacturer or vendor, or agent therefor whether past, present or known future, when deciding upon products under consideration for licensing.

(8) In soliciting, accepting, and/or disposing of gifts, the commission shall ensure that no obligation is assumed that might influence or appear to influence the commission, or employees or contractors employed by the commission in the conduct of their duties.