(A) A county agricultural society or independent agricultural society may sell any part of the premises that are used by the society as a site on which to hold annual exhibitions or exchange any part thereof for other lands if such premises are in the possession or under the control of the society and either of the following apply:

(1) The premises are greater in size than is necessary for the purposes to which they are devoted.

(2) The premises are not suitable in their formation or character for the purposes to which they are devoted.

(B) If the title to the premises described in division (A) of this section is held by the county, the board of county commissioners may sell any part of the premises or exchange any part thereof for other lands if division (A)(1) or (2) of this section applies. The board shall notify the applicable society of its intention to make such a sale or exchange. The board shall provide the notice in writing fourteen days prior to the sale or exchange.