Exchange of property; value. (1) When property is exchanged under the authority of ORS 270.100, 270.110 and 270.130, the value of the real property accepted by the state in exchange for any of its property plus cash, if any, shall not be less than the value of the property relinquished by the state. The provisions of ORS 270.100, 270.110 and 270.130 do not apply when the state is exchanging property under this section

(2) Property may be exchanged in a transaction involving more than two parties or properties under terms and conditions that reflect the provisions of subsection (1) of this section. [1981 c.787 §13; 1991 c.816 §8]