Transfer of title to Trust. A. Contingent upon the creation of the Oklahoma State University Veterinary Medical Trust as provided in Section 20 of this act, the Oklahoma State University Veterinary Medicine Authority is hereby authorized to lease, for a term of not more than fifty (50) years, renewable at the option of the Authority, all real property owned by the Authority and any other sites under the control of the Authority to the Oklahoma State University Veterinary Medical Trust. Any lease agreement made pursuant to this section shall be contingent upon: 1. Prior review by the Attorney General of any contractual agreement between the Oklahoma State University Veterinary Medical Trust and any entity authorized to transact business in the State of Oklahoma regarding the lease and operations. The Attorney General shall disapprove the agreement if it is determined that provisions of the agreement are not consistent with state law; and 2. The execution of an operating and lease agreement between the Oklahoma State University Veterinary Medical Trust and any entity authorized to transact business in the State of Oklahoma. B. Concurrent with the execution of a lease of real property from the Oklahoma State University Veterinary Medicine Authority to the Oklahoma State University Veterinary Medical Trust as provided in subsection A of this section, the Authority is authorized to transfer title to and possession of all tangible and intangible personal property under its control to the Trust. In any contractual agreement regarding the lease and operations of an animal hospital or hospitals between the Oklahoma State University Veterinary Medical Trust and any entity authorized to transact business in the State of Oklahoma, the Trust is authorized to sell or otherwise convey to such entity all tangible and intangible personal property the Trust may receive from the Oklahoma State University Veterinary Medicine Authority. Any contract or other agreement which purports to exercise the powers authorized by this subsection is subject to review by the Contingency Review Board, as specified in Section 21 of this act. C. If a contracting entity fails to take possession of the leased premises, or abandons or surrenders possession of the leased premises other than to a state agency, at any time during the term of the lease between the Oklahoma State University Veterinary Medical Trust and the contracting entity, the interest in the real property leased to the Oklahoma State University Veterinary Medical Trust by the Oklahoma State University Veterinary Medicine Authority shall revert to and be the sole and exclusive property of the Oklahoma State University Veterinary Medicine Authority. D. Contingent upon the execution of an agreement between the Oklahoma State University Veterinary Medical Trust and any entity authorized to transact business in the State of Oklahoma, as specified in subsection A of this section, the Oklahoma State University Veterinary Medicine Authority is authorized to enter into an agreement for such entity to provide animal patient care services and perform other related duties imposed upon the Oklahoma State University Veterinary Medicine Authority by law. Such an agreement between the Oklahoma State University Veterinary Medicine Authority and such entity is exempt from the requirements of the Oklahoma Central Purchasing Act and any rules adopted by the Oklahoma State University Veterinary Medicine Authority pursuant to the Administrative Procedures Act. The governing committee created by the agreement and the Oklahoma State University Veterinary Medical Trust shall be subject to the Open Meeting Act and the Oklahoma Open Records Act to the same extent and with the same exceptions as provided for the Oklahoma State University Veterinary Medicine Authority in Section 5 of this act and shall be exempt from the Oklahoma Central Purchasing Act.
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