Upon the presentation of federal recognition to the Narragansett Indian land management corporation and the secretary of state, the Narragansett Indian land management corporation shall forthwith transfer and convey to the federally recognized Narragansett Tribe of Indians all powers, authority, rights, privileges, titles, and interest it may possess to any and all real property acquired, owned, and held for the benefit of those individuals of Indian ancestry set forth in the list established pursuant to P.L. 1880 ch. 800, § 4, and thereafter, the Narragansett Indian land management corporation shall have no further interest in the real property. All real property transferred by the Narragansett Indian land management corporation to the federally recognized Narragansett Tribe of Indians pursuant to this provision:
(a) Shall be subject to the same conditions, restrictions, limitations, or responsibilities set forth in §§ 37-18-6(m)(2) and (m)(3), 37-18-8, 37-18-9, 37-18-10, and 37-18-11 hereof as are applicable to the corporation and all its authorized activities.
(b) Shall be subject to the civil and criminal laws of the state of Rhode Island and the town of Charlestown, Rhode Island, except as otherwise provided herein.