Sec. 7. Proceedings for the appointment of a trustee may be instituted by any person who is:

(1) a coal owner of the coal sought to be developed; or

contract signature

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Terms Used In Indiana Code 32-23-12-7

  • coal owner: means a person vested with an undivided fractional fee simple interest or other freehold interest in coal contained within the coal land. See Indiana Code 32-23-12-3
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Trustee: A person or institution holding and administering property in trust.
(2) vested with a valid and subsisting coal lease, if the lessor is a person described in subdivision (1).

As added by P.L.94-2009, SEC.1.

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