Donation of motor vehicle to board of regents - Written agreement. A. The board of regents of any institution within The Oklahoma State System of Higher Education may enter into a written agreement with any person or business entity covering the donation to the board of regents of any motor vehicle for use by the institution in connection with any technical education, training, maintenance, or other similar education program, or in administering any such program operated by or under the direction of the board of regents. The agreement shall be executed by the board of regents or an administrative officer for the board of regents and the manufacturer of the motor vehicle. B. The written donation agreement shall:
1. Specify the monetary consideration for the donation, if any;
2. Provide that ownership of the motor vehicle remain with the board of regents; and 3. State the make and model of the motor vehicle.