Bidding; report; hearing; endorsement
Sec. 3. In compliance with the terms of the order for the sale of
said oil and gas, coal, or other mineral lease, said administrator,
executor, or guardian shall offer said lease for sale and sell the same
to the highest bidder upon such terms and conditions as the court
shall order and shall thereupon file a report of sale showing the land
upon which said lease was sold, the term of years thereof, the name
of the purchaser, and the amount for which the same was sold, and
attach to the return a copy of the form of lease proposed to be
executed, which report shall thereupon, without further notice, be
heard by the court having probate jurisdiction and if the court finds
that said sale was properly conducted as herein provided, and that the
price bid for said lease was not disproportionate to the value thereof,
said sale shall be confirmed and said administrator, executor or
guardian authorized and directed to execute and deliver said lease,
and when said lease is executed the judge shall indorse his approval
thereon.
(Formerly: Acts 1943, c.270, s.3.)
Last modified: May 27, 2006