(a) On the basis of investigation on nongame wildlife provided for in § 70-8-104 and other available scientific and commercial data, and after consultation with other state wildlife agencies, appropriate federal agencies, and other interested persons and organizations, but not later than April 5, 1975, the fish and wildlife commission shall by regulation propose a list of those species or subspecies of wildlife indigenous to the state that are determined to be endangered and threatened within this state, giving their common and scientific names by species and subspecies. This list shall be made available to the public.

(b) The commission shall conduct a review of the state list of endangered species within not more than two (2) years from its effective date and every two (2) years thereafter, and may amend the list by such additions or deletions as are deemed appropriate. The executive director shall submit to the governor a summary report of the data used in support of all amendments to the state list during the preceding biennium and shall make a current list available to the public.

(c) In the event the United States' List of Endangered Native Fish and Wildlife (50 CFR, Part 17, Appendix D), is modified subsequent to April 5, 1974, by additions or deletions, such modifications whether or not involving species or subspecies indigenous to the state may be accepted as binding if, after the type of scientific determination described in subsection (a), the fish and wildlife commission by regulation accepts such modification for the state. Any such regulation shall be effective upon promulgation.