The trustee shall proceed, conformably to the provisions of such decree, to sell the lease authorized thereby, and after making such sale shall make a report thereof to the court. Upon filing of such report, the court may hear evidence as to whether or not the sale price is reasonable, and, if the court be satisfied with the sale and the amount received therefor, such sale shall be confirmed by the court and the lease executed by the trustee approved by the court on the face thereof.
KRS 353.360
Execution of sale of lease -- Report -- Confirmation
Known as the Natural Gas Acquisition Authority Act
The act spans §§ 353–353 (136 sections).
Applied in 1 court decision — leading case Ellis v. Rudy (1952)
Most recently applied in Ellis v. Rudy (December 1952)
History: Created 1944 Ky
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.