(1) All state agencies within sixty days of acquiring or disposing of state lands shall be required to provide to the department an accurate record of such transaction. At the same time an agency provides the department with ownership records regarding acquisition or disposal of state lands, they must

also, on a form prescribed by the department, provide the following information:

(a) a legal description of the land;

(b) when the land was acquired or disposed of;

(c) name of the state agency administering or disposing of the land;

(d) name of the grantor and grantee of the land;

(e) a completed record of all subsurface and mineral rights on the land.

(2) In lieu of providing the above information on a written form, the department may require the state agency to provide the information into a computer data base in a format determined by the department.

(3) Prior to the department accepting any ownership records, the agency supplying such records must properly record them in the county wherein the lands are located.

(4) It shall be the responsibility of the transferring state agency to notify the department of any discrepancies to insure that all lands on record with the department are correct to the best of the state agency's knowledge.