77-5-116. State forest lands -- deferral of management prohibited. The board and the department are prohibited from designating, treating, or disposing of any interest in state forest lands for the preservation or nonuse of these lands prior to obtaining funds for the affected beneficiary equal to the full market value of that designation, treatment, or disposition. Unless the full market value of the property interest or of the revenue foregone is obtained, the board and the department are prohibited from either temporarily or permanently designating, treating, or disposing of any interest in any state forest lands for the following purposes:

(1) as a natural area pursuant to Title 76, chapter 12, part 1, or as otherwise provided for by law;

(2) as open-space land as defined in 76-6-104;

(3) for old growth timber preservation; and

(4) as a wildlife management area.