MS SB2738

Establishes that leases of sixteenth section lands executed by a school board are presumed valid once the board provides notice to the Secretary of State within 10 days of execution.

Eliminates the requirement for Secretary of State approval before a school board may enter into a lease, though the Secretary may challenge the lease's validity in chancery court within 30 days by proving it is unconscionable or otherwise invalid using clear and convincing evidence.

Grants immunity from individual liability to board members acting in good faith and relying on advice from the board attorney when entering into lease agreements.

Applies the presumption of validity provisions to re-leases of sixteenth section lands under Section 29-3-63 and to all leases under Section 29-3-69.

Amends Mississippi Code Sections 29-3-63 and 29-3-69 to incorporate these validation provisions and brings Section 29-3-65 forward for potential amendment.