When a husband or wife, while occupying a homestead, is adjudged to be an incapacitated person, the conservator of such spouse may be authorized, by the district court having jurisdiction, to join with the competent spouse in executing a mortgage upon the homestead, renewing or refinancing an encumbrance thereon which is likely to cause loss, or in executing a lease thereon authorizing the lessee, said lessee's heirs and assigns, to explore and produce therefrom oil, gas, coal, lead, zinc, or other minerals as herein provided.

L. 1945, ch. 240, § 1; L. 1965, ch. 346, § 41; L. 1976, ch. 242, § 50; January 10, 1977.