In carrying out its duties under RCW 43.330.502, the department may: (1) Sue and be sued on behalf of the life sciences discovery fund; (2) make and execute agreements, contracts, and other instruments, with any public or private person or entity; (3) employ, contract with, or engage independent counsel, financial advisors, auditors, other technical or professional assistants, and such other personnel as necessary; (4) establish such special funds, and controls on deposits to and disbursements from them; and (5) adopt rules for the implementation of chapter 83, Laws of 2019.