25-13-903. (Temporary) Time to exercise right. (1) An immediately preceding owner of foreclosed agricultural land may not exercise the right to lease agricultural land later than 15 days after receiving an offer to lease under 25-13-902 and may not exercise the right to purchase agricultural land later than 60 days after receiving an offer to sell under 25-13-902.
     (2) The right of the immediately preceding owner to purchase or lease any foreclosed agricultural land under 25-13-902 applies only for the same length of time that real estate may be held by a bank under 32-1-423(2). (Terminates June 30, 1996--sec. 6, Ch. 472, L. 1987.)

     History: En. Sec. 3, Ch. 472, L. 1987.