OK SB1573

Oklahoma Historical Society is authorized to transfer ownership of historic properties (both real and tangible) to organizations or groups that agree to maintain them for historic preservation and pay fair market value.

When the Society declares property surplus or unable to maintain, the Society must first offer the property for sale at fair market value to the original donor, even without a reversionary clause in the gift agreement.

If the original donor cannot be identified, property may be offered to appropriate not-for-profit organizations or federally recognized Indian tribes with formal written contracts including maintenance and preservation agreements.

The sale and transfer process must originate with the Oklahoma Historical Society Board of Directors and is exempt from the Oklahoma Surplus Property Act and related statutes (Sections 327 and 327.1 of Title 61).

The Oklahoma Historical Society is added to exemptions from state property disposal procedures under Title 74, Section 62.3, and the act takes effect immediately as an emergency measure.