(a) The board may approve by rule or order a ratification or other agreement that includes in the benefits of production a mineral or royalty interest in land owned by the state that was acquired to construct or maintain a highway, road, street, or alley.
(b) An agreement approved by the board under this section must be executed by the commissioner to be effective.
(c) This section does not apply to an interest subject to pooling or unitization by a lessee under a lease issued under this subchapter.