82-1-302. Creation of trust for unlocatable mineral, leasehold, or royalty interest owners. (1) Any person who owns an interest in minerals underlying a tract of land may petition the district court of the county in which the tract or a portion of the tract is located to declare a trust in favor of a person or persons also owning or claiming an interest in the minerals underlying the tract if their place of residence and present whereabouts is unknown and cannot reasonably be ascertained.
     (2) In requesting the appointment of a trustee, the petitioner must show that:
     (a) a diligent but unsuccessful effort to locate the absent owner or claimant has been made; and
     (b) appointment of a trustee will be in the best interest of all owners of interest in the minerals.
     (3) After determining that the conditions of subsection (2) have been met, the court shall appoint the clerk of court as a trustee and shall authorize him to execute and deliver an oil, gas, or other mineral lease, a ratification, division order, or other related document or instrument on such terms and conditions as the court may approve.

     History: En. Sec. 1, Ch. 513, L. 1979.