§ 30-1-6-3 — Bidding; report; hearing; endorsement

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.