A. The J.M. Davis Memorial Commission is authorized to sell or transfer museum collection objects, which are duplicates or are outside of the scope of collections owned by it, to other state agencies or other museums with nonprofit status or to commercial entities or individuals unless the object is leased to or loaned to the Commission or was purchased with appropriated funds by the Commission. Any transfer or sale shall be in full compliance with the laws and regulations regarding the sale of such objects, including laws and regulations regarding the sale of firearms. The proceeds of any sale or transfer shall be deposited in the J.M. Davis Arms and Historical Museum Endowment Fund, or the J.M. Davis Memorial Commission Revolving Fund as determined by a vote of the Commission.

B. The J.M. Davis Memorial Commission shall be exempt from the Oklahoma Surplus Property Act¹ for the purpose of disposing of museum collection surplus property as described in subsection A of this section and is authorized to destroy and dispose of museum collection surplus property including objects owned by the Commission that have deteriorated past the point of usefulness or have no resale value.

C. No member of the J.M. Davis Memorial Commission, employee, or their families may obtain possession of museum collection surplus property from the Commission in person or by proxy unless obtained at a public sale under the provisions of this section.

D. The J.M. Davis Memorial Commission shall not transfer, or dispose of any property that is leased to, loaned to, or held in temporary custody by the Commission.