(A) The Governor of the State of South Carolina is hereby authorized and directed, for and in the name of the State, to join the organization of states known as the Interstate Oil Compact Commission, created and established with the consent of Congress by the Interstate Compact to Conserve Oil and Gas, which has been extended from time to time by Congress, as an associate member and in the event that South Carolina becomes an "oil-producing state" and is thereby permitted to become a member of the Interstate Oil Compact Commission and join with other states in the Interstate Compact to Conserve Oil and Gas. The Governor is hereby authorized and directed, for and in the name of the State, to become a member of the commission and join the compact which is now deposited with the Department of State of the United States.
(B) The interstate compact to conserve oil and gas referred to above reads as follows:
"AN INTERSTATE COMPACT TO CONSERVE OIL AND GAS
ARTICLE I
This agreement may become effective within any compacting state at any time as prescribed by that state, and shall become effective within those states ratifying it whenever any three of the states of Texas, Oklahoma, California, and New Mexico have ratified and Congress has given its consent. Any oil-producing state may become a party hereto as hereinafter provided.