It shall be the duty of the ABC board to:

(1)   Buy, sell, transport, and possess alcoholic beverages as necessary for the operation of its ABC stores;

(2)   Adopt rules for its ABC system, subject to the approval of the commission.

(3)   Hire and fire employees for the ABC system;

(4)   Designate one employee as manager of the ABC system and determine his responsibilities;

(5)   Require bonds of employees as provided in the rules of the commission.

(6)   Operate ABC stores as provided in Article 8;

(7)   Issue purchase-transportation permits as provided in Article 4;

(8)   Employ local ABC officers or make other provision for enforcement of ABC laws as provided in Article 5;

(9)   Borrow money as provided in G.S. 18B-702;

(10)   Buy and lease real and personal property, and receive property bequeathed or given, as necessary for the operation of the ABC system.

(11)   Invest surplus funds as provided in G.S. 18B-702;

(12)   Dispose of property in the same manner as a city council may under Article 12 of Chapter 160A of the General Statutes; and perform any other activity authorized or required by the ABC law.