§58-265. Approval of contract by judge of district court -
122 words·~1 min read·
/ok/title-58-probate-procedure/58-265A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Procedure - Limitation to two thirds of appraised value, exception as to.
Any contract for the borrowing of money or the mortgaging or pledging of the assets of the estate for any of the purposes stated in Section 264 of this title must have the approval of the judge of the district court having jurisdiction of the settlement of the estate and the procedure therefor shall be the same procedure as that provided for in Sections 385-b (as amended), 385-c, and 385-d of this title, except that personal property may be mortgaged or pledged as security for such indebtedness without limitation to two- thirds (2/3) of the appraised value thereof. Laws 1941, p. 230, § 2; Laws 1953, p. 235, § 15.