The board of trustees of a state educational institution that receives a gift, bequest, or devise of real property may, if not inconsistent with the terms and conditions of the gift, bequest, or devise:

1. (1) sell, convey, or otherwise dispose of the real property; and

2. (2) invest, reinvest, or use the proceeds derived from the sale, conveyance, or disposition of the real property;

   if the board of trustees determines that the action will be of the greatest benefit to the state educational institution.

   [Pre-2007 Higher Education Recodification Citation: 20-12-5-1.]

As added by P.L.2-2007, SEC.271.