Indiana Statutes
§ 30-1-6-4 — Consolidating with adjoining land; joint development
Every guardian, executor, or administrator shall
have the power, upon approval by the court wherein the guardianship
is pending, to execute agreements consolidating the lands of the
protected person or of the estate covered by an oil and gas mining lease
that has been executed, or which may be executed, or any part thereof,
with other adjoining land for the purpose of joint development and
operation of the entire consolidated premises as a unit, to the end that
the protected person or estate shall share proportionately in the royalty
on oil, gas and casinghead gas produced from the consolidated tract.
Formerly: Acts 1943, c.270, s.4. As amended by P.L.33-1989,
SEC.87.
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Definitions