(a) All personal properties, records, equipment, and supplies now owned and in use by the above named institutions shall be transferred to and become the property of the Oklahoma Public Welfare Commission.

(b) All contracts, leases, and such other agreements as may have been entered into by the Board of Managers, relative to the above-named institutions, and such responsibilities as are in effect on the effective date of this act¹ shall be assumed by and become binding upon the Oklahoma Public Welfare Commission and Department of Public Welfare.

(c) All unexpended funds to the credit of the above named institutions shall be transferred by the State Treasurer to the State Department of Public Welfare and placed in a separate account with said State Treasurer. The account shall be known as the “State Homes and Training Schools Operation Fund.”