(1) Land purchased through a grant agreement with the Oregon Watershed Enhancement Board shall be subject to title restrictions that are consistent with the conservation purposes of the grant and give the board the authority to approve, approve with conditions or deny the sale or transfer of the land. The board may require conditions on the sale or transfer to: (a) Ensure consistency with the intent of the original grant; (b) Ensure the ability of the party receiving the land through the sale or transfer to carry out the obligations under the grant agreement; and (c) Address the disposition of proceeds from the sale or transfer, including any provisions for repayment, with interest, of any grant funds. (2) The board may not allow a sale or transfer that results in any profit to any person. (3) The board shall, by rule, define profit for the purpose of not allowing sales or transfers and shall specify the process and criteria that the board will use in considering whether to approve, approve with conditions or deny a sale or transfer. [Formerly 541.376] Note: See note under 541.890. (Reports)
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