All valuable papers and securities, or any portion thereof, pertaining to the business of the land department, may, by direction of the state board of land commissioners, be deposited with the state treasurer for safekeeping in the fireproof vault and fire and burglar proof safe provided for the treasurer’s department. Upon such order being made by the board, the director shall prepare a list of such valuable papers and securities so ordered deposited, in triplicate, and shall take thereon the receipt of the treasurer for such papers and securities, leaving one (1) list with the treasurer, filing one (1) with the state controller and preserving one (1) in the office of the board. For the safekeeping of such papers and securities, and their return to the state board of land commissioners when required at any time, the state treasurer shall be liable on his official bond.