(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.