Indiana § 30-1-7-2 - Petition to execute options; prospectus
Full text of Indiana Indiana Code § 30-1-7-2 — Petition to execute options; prospectus, with citation guidance and answers to common questions.
§ 30-1-7-2. Petition to execute options; prospectus
Sec. 2. Guardians of the estates of persons under the age of eighteen (18) years and incapacitated persons are authorized to petition the court having probate jurisdiction in the county in which the guardianship is pending for authority to execute the options under section 1 of this chapter. The petition shall be verified and set forth the name of the person, firm, limited liability company, or corporation to whom it is proposed to give the option. It shall also set forth a prospectus as to the probable existence of minerals, their probable value, the amount to be paid for the option, the length of time the option is to continue, a copy of the proposed option, and a copy of the proposed lease or deed which is to be executed in the event the option is exercised.
Formerly: Acts 1943, c.105, s.2; Acts 1973, P.L.264, SEC.8. As amended by P.L.33-1989, SEC.90; P.L.8-1993, SEC.462.
Frequently Asked Questions About Indiana § 30-1-7-2
What does Indiana Code § 30-1-7-2 cover?
Section 30-1-7-2 ("Petition to execute options; prospectus") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 30-1-7-2?
A common citation format is "Indiana Code § 30-1-7-2" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 30-1-7-2 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.