2016 Kentucky Revised Statutes CHAPTER 353 - MINERAL CONSERVATION AND DEVELOPMENT .230 Petition for court approval -- Affidavits -- Guardian ad litem -- Order of approval.
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353.230 Petition for court approval -- Affidavits -- Guardian ad litem -- Order of
approval.
(1)
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(3)
Upon the execution of such a consolidation agreement, the trustee shall file with the
clerk of the Circuit Court in the county in which the land covered by the lease to be
consolidated hereunder, or the greater portion thereof, lies a petition for an order
approving such consolidation agreement setting forth a copy of the consolidation
agreement and a statement of facts constituting the grounds relied upon to secure
the approval of such agreement, and shall submit with the petition the affidavits of
not less than three (3) disinterested owners of real estate in the county wherein the
proceedings hereunder are brought, as to whether such agreement will be
advantageous or beneficial to the beneficiaries for whom such trustee is acting,
which affidavits shall be filed and preserved as records of the Circuit Court.
No agreement permitted by KRS 353.210 to 353.230 shall be valid or effective until
the judge of said court appoints a guardian ad litem to represent the beneficiaries for
whom such trustee is acting and whose interests are sought to be consolidated
hereunder. The guardian ad litem shall file an answer and the affidavits of at least
three (3) witnesses, proving the advantages or disadvantages of such agreement, and
shall make such recommendation to the judge relating to the agreement as he
believes to be most beneficial to the persons on whose behalf he is acting. He shall
receive for his services a reasonable compensation, to be allowed by the judge and
taxed as costs.
The judge shall proceed in a summary manner to approve or disapprove the
consolidation agreement, and if he approves it he shall endorse his approval
thereon. The order of the judge approving such agreement shall be entered on the
civil order book of the circuit clerk's office of the county in which the proceedings
hereunder are brought.
Effective: January 2, 1978
History: Amended 1976 (1st Extra. Sess.) Ky. Acts ch. 14, sec. 282, effective January
2, 1978. -- Created 1944 Ky. Acts ch. 71, sec. 3.
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