(1) The State Land Board, by and through the Department of State Lands or other agency acting on behalf of the State Land Board, shall dispose of isolated parcels of land classified as rangeland by the board in a manner consistent with the asset management plan adopted under ORS 273.245 and the board’s trust responsibilities.
(2) As used in this section, “isolated parcel” means:
(a) Land largely surrounded by land not owned by the board or not contiguous to other larger tracts of state land; or
(b) Land determined by the board to be difficult or uneconomical to manage due to access, location, isolation, low production value or similar factors.
(3) To the extent consistent with the board’s trust obligations and ORS 273.413, the department or other agency acting on behalf of the board shall establish a sale procedure for isolated parcels of rangeland that is efficient and cost-effective.