Any agreement made under Kan. Stat. Ann. §§ 76-347 or 76-349 shall provide that the same shall not be effective until approved by the attorney general. Proceeds from any sale of real or personal property authorized by this act shall be deposited in a trust fund to be established and maintained in accordance with provisions of this act. The state board of regents is authorized to give a good and sufficient deed to any real property sold under the provisions of this act.