A. The Governor, Lieutenant Governor, State Auditor and Inspector, Superintendent of Public Instruction, and the President of the State Board of Agriculture shall constitute the Commissioners of the Land Office. The Commissioners of the Land Office shall have charge of the sale, exchange, rental, disposal, and management of the school lands and other public lands of the state and of the funds and proceeds derived from the lands. The school lands and public lands of the state and the funds and proceeds derived from the lands shall be managed as a sacred trust for the exclusive benefit of the beneficiaries and for the return of full value from the use and disposition of the trust property and as prescribed by the Legislature to attain the trust goals by protection of assets coupled with maximum return and to provide standards to foster evenhanded and proper administration of the trust.
B. The Commissioners of the Land Office shall possess and retain all powers and duties irrevocably granted pursuant to the Constitution of the State of Oklahoma, the Enabling Act of Oklahoma, and laws governing the proper administration of trusts.
Added by Laws 1933, c. 91, p. 162, § 2. Amended by Laws 1979, c. 30, § 36, emerg. eff. April 6, 1979; Laws 2010, c. 41, § 2, emerg. eff. April 2, 2010. Renumbered from § 1 of this title by Laws 2010, c. 41, § 53, emerg. eff. April 2, 2010.