Upon petition of the guardian of the estate and after notice to such persons, if any, as the court may direct, the court may authorize the guardian of the estate of an incapacitated person in behalf of his or her ward to enter into transactions and to execute all instruments necessary or advantageous to the ward's estate in the operation and development of any interest, including leasehold interest, which the ward may own in oil, gas, or minerals, including, but not limited to, unit operating agreements, royalty unitization agreements, royalty pooling agreements, field unitization and repressure agreements, and such other agreements and contracts relative thereto as the court shall find to be for the best interest of the ward.
Structure Arkansas Code
Title 28 - Wills, Estates, and Fiduciary Relationships
Subtitle 5 - Fiduciary Relationships
Chapter 65 - Guardians Generally
Subchapter 3 - Powers and Duties
§ 28-65-301. Duties of guardians generally
§ 28-65-302. Decisions requiring court approval
§ 28-65-303. Care, treatment, and confinement of ward
§ 28-65-304. Title and possession of estate
§ 28-65-305. Actions — Service of process
§ 28-65-306. Enforcement of contracts
§ 28-65-307. Continuation of business — Liability
§ 28-65-308. Power to borrow money, make gifts, etc
§ 28-65-309. Periodic allowances
§ 28-65-310. Support of minor ward
§ 28-65-312. Retention of property and investment
§ 28-65-314. Sales, mortgages, etc., of property generally
§ 28-65-315. Oil, gas, and mineral interests — Sale, lease, etc
§ 28-65-316. Oil, gas, and mineral interests — Agreements for operation and development
§ 28-65-317. Payment of claims
§ 28-65-318. Compromise settlements
§ 28-65-319. Employment of professionals