A. If, upon presentation to the circuit court of the petition, it appears to the court that development of the interests in the tract of coal will be advantageous to the unknown or missing owners, the court shall declare a trust in the coal interests, and shall appoint a trustee for such interests. The court shall authorize the trustee to execute a lease covering the coal interests in the identified tract of coal. The order of the court shall provide for all the terms and provisions of the lease that the trustee is authorized to make.
B. The trustee shall proceed in compliance with the provisions of the order to execute the lease, and after executing the lease shall submit a report thereof to the court.
C. The court shall not authorize a trustee's lease upon the coal interests of any owner whose identity and whereabouts is known, or can be ascertained, or is discovered as a result of the action brought under this article. Any such owner may intervene as a matter of right at any time prior to the judgment approving the trustee's lease, for the purpose of establishing his title to the coal interests. If the coal owner's claim is established to the satisfaction of the court, the court shall dismiss the action at plaintiff's cost.
2003, c. 775.
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