(a) Upon specific authorization of the state board of regents and in accordance with policies adopted pursuant to this section, a state educational institution may sell and convey real property given as an endowment, bequest or gift to such institution. (b) The state board of regents shall adopt policies governing the procedures and conditions under which state educational institutions may sell and convey real property given as an endowment, bequest or gift to such institution. Such policies shall include the disposition of the proceeds of such sale and conveyance. (c) The state board of regents shall submit to the legislature at each regular session a report listing any such real property transfers that occurred during the previous fiscal year pursuant to this section. (d) Any sale and conveyance authorized pursuant to this section shall not be subject to the provisions of K.S.A. 75-6609, and amendments thereto. (e) As used in this section, "state educational institution" means the same as defined in K.S.A. 76-711, and amendments thereto.
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