.net - Make A Class Property Behave Like The Checked Property On RadioButton?

I have a very simple class that holds a few public properties - ID, Text, Colour, etc. and a Boolean called 'SelectedItem'. Just like the Checked property on RadioButtons, only one item can have its SelectedItem property set to True within a particular group. Note: there will be several separate groups (lists), each allowed to have only one item with SelectedItem = True.

My first thought was that I would probably just have to handle everything outside of the class, setting SelectedItem to False for every other item in a particular list when another item was selected. But that seems rather inelegant to me. So I've been trying to think of how this might be done within the class. For example: could I perhaps have a private string property called say "GroupName" - set in the New sub when adding a new instance of the class - and then use a private shared method to set every item's SelectedItem property to False, provided the item has the same GroupName as the newly selected item? I would have a go at doing this but I have no idea how to enumerate every instance of a class from within that class, or whether that's even possible. Is it? Or is there another (better) way to achieve my goal? Here is a cut-down version of what I've got so far:

Public Class ResourceItem
Public ID As Integer
Public Text As String[code]....

As can be seen: instead of instantiating a new ResourceItem and passing that as an argument to the manager's Add procedure, I'm simply passing the details of the new item and the procedure is creating the item from those. I don't know whether this is a good or bad idea - please advise - but I've done it because I couldn't figure out how to make the SelectedItem property only writeable by the manager, so I wanted to avoid having directly accessible objects that could have their SelectedItem property set to True without it deselecting all the other items in the same group. Of course that still leaves the possibility of setting a variable to one of the manager's list items and setting it from there, so I would still like to know how I could prevent that, if possible.

UPDATE: I didn't use the code above in the end, deciding instead to go with Cyborgx37's solution - which seems to work perfectly well for me despite the warnings about best practice. I also realised I would need to use the same class in another scenario where multiple items could be selected, so it was easy to add a Boolean property to the manager to enable that.