All conveyances of interests in real property to the board of university and school lands which were effected by this chapter prior to July 12, 1989, are hereby validated and confirmed, and all contracts, agreements, conveyances, or other transfers of interests in real property made by the board of university and school lands under the authority of this chapter prior to July 12, 1989, are hereby validated and confirmed, and are binding upon the Bank of North Dakota.
N.D.C.C. § 15-08.1-05.1