The State Land Fund may, in accordance with rules and regulations adopted by the Governor and approved by the Council of State, be used for the following purposes:
(1) To pay any expenses incurred in carrying out the duties and responsibilities created by the provisions of this Chapter.
(2) For the acquisition of land, when appropriation is made for that purpose by the General Assembly.
(3) To pay any expenses incurred by the State Auditor in carrying out the duties and responsibilities created by G.S. 143-341.2(b)(3). (1959, c. 683, s. 1; 2016-119, s. 1(d).)