Except where otherwise provided for in the charter, constitution, or bylaws of any church, lodge, or other eleemosynary institution, the trustee, deacons, or other governing body shall have the right and authority to make, execute, and deliver oil, gas, and mining leases, and mineral deeds upon lands owned by the institutions upon such terms and conditions as the governing body shall deem to be in the best interest of the institutions, and the majority vote of the body shall control in all such actions taken by the body.Acts 1923, No. 628, § 1; Pope's Dig., §§ 10503, 11370; A.S.A. 1947, § 53-301.
Arkansas Legal Code