(1) Where any land has been donated to the state and a deed thereof has been accepted by the governor, for the purpose of establishing thereon state forests and parks in accordance with the provisions of Section 55-3-1, and the state forestry commissioner certifies in writing to the secretary of state that the land has not been used as a part of any state forest or park for a period of time not less than five (5) years from the date of conveyance of said land, the secretary of state is authorized and empowered, in his discretion, with the approval of the governor to reconvey the land to the donor, his heirs, representatives or assigns.

(2) The price to be paid by the donor, his heirs, representatives or assigns, upon the reconveyance of said land shall be sufficient to cover the nominal consideration paid by the state for the land originally, if there be any such consideration, together with the cost of any improvements placed by the state or any agency thereof upon the land, and any sums of money expended in caring for and maintaining the land or any other expense incurred by the state or any agency thereof in connection therewith.

(3) The deed from the state to the donor, his heirs, representatives or assigns, shall state the true consideration therefor, and where made in good faith by all parties, shall convey the entire right, title and interest of the state therein.

(4) Any such deed from the state to the donor, his heirs, representatives or assigns, shall be recorded at the expense of the donor, his heirs, representatives or assigns, in the office of the chancery clerk of the county in which the land is located, and a failure to so record the deed shall render the same void.