§ 29-1-15-8 — Petition; stock; bonds; securities

A personal representative may sell, mortgage
or lease any personal property belonging to the estate upon filing a
petition setting forth the reasons therefor and describing the property
involved. The petition shall be heard without notice unless the court
shall otherwise direct. After hearing the petition, the court may order
the sale, mortgage or lease of the property described or any part
thereof, at either public or private offering and upon such terms and
conditions as the court may deem best for the interests of the estate.
Where any part of the personal property consists of the corporate
stocks, bonds or other securities of any corporation, public or private,
which are listed or admitted to trading on the New York Stock
Exchange, the American Stock Exchange, the Midwest Stock
Exchange, the Pacific Coast Stock Exchange, or any other recognized
stock exchange, or of securities which are obligations of the
government of the United States, any of such securities may be sold for
cash at the market price thereof at the time of sale whether such price
be more or less than the appraised or inventoried value of such
securities, and without notice and without any requirement for the
reappraisement of such securities.
Formerly: Acts 1953, c.112, s.1508; Acts 1961, c.50,
s.1.