43-30B-1. Petition for creation of trust. Any person or entity who holds an interest in a particular tract of land may petition the court in the county where the land is located to declare a trust in favor of an owner of a mineral interest in the particular tract of land if the location or […]
43-30B-2. Required showing. If the petitioner can demonstrate that the creation of a trust is in the best interest of the owner and that the petitioner cannot, after due diligence, locate or identify the owner, the court may create a trust, as provided for in §43-30B-1. Source: SL 2013, ch 223, §2; SL 2017, ch […]
43-30B-3. Declaration of trust in favor of unlocated or unidentified mineral owner–Appointment of trustee. If the court determines the petitioner meets the burdens provided for in §43-30B-2, the court shall declare a trust in favor of the unlocated or unidentified mineral owner, shall appoint the county treasurer or another person or entity as trustee of […]
43-30B-4. Administration of trust. Except as otherwise provided in this chapter, the trustee shall administer the trust in compliance with title 55. The trustee may engage agents to assist in the administration of the trust. Trustee fees, agent fees, and any other administrative costs must be reasonable and may be paid from the trust upon […]
43-30B-5. Termination of trust–Distribution of trust moneys. A trust in favor of an unlocatable or unidentifiable mineral owner shall remain in force until an order of the court is entered, after such notice as may be required by the court, finding that an owner has appeared and been identified. The court shall fix the date […]
43-30B-6. Actions not use of mineral interest under chapter 43-30A. No act taken by or upon the permission of a trustee, petitioner, or court under this chapter shall be considered use of a mineral interest under chapter 43-30A. Source: SL 2013, ch 223, §6; SL 2017, ch 189, §6.
