(a) The Board of Corrections is authorized to enter into contracts, compacts, or agreements with the appropriate governing officials of agencies of other states or of the federal government for the buying and selling of raw materials, goods, and products produced by and belonging to their respective institutions in accordance with such terms and conditions as the board and the governing officials of correctional institutions of other states or the federal government may deem advantageous and appropriate for their respective institutions and programs.
(b) These agreements may include matters such as the buying and selling of raw materials for finished products produced in correctional institutions or for the processing of materials into finished products.
(c) Copies of all such agreements, compacts, or contracts entered into with correctional institutions of other states, or with the federal government as authorized in this section, shall be filed with the Chief Fiscal Officer of the State.
(d)
(1) A complete set of books and records shall be kept with respect to all transactions, deliveries, and obligations under each compact, contract, or agreement.
(2) Copies shall be filed with the Chief Fiscal Officer of the State and shall be available to public inspection during all normal business hours.
(e) The board may make reasonable rules governing the Division of Correction in the administration of contracts, compacts, or agreements made under the provisions of this section.