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§ 2162. Disposition of Royalty Oil in the Event of Default.

2 CA ADC § 2162BARCLAYS OFFICIAL CALIFORNIA CODE OF REGULATIONS

Barclays Official California Code of Regulations Currentness
Title 2. Administration
Division 3. State Property Operations
Chapter 1. State Lands Commission
Article 3.5. Disposal of Royalty Oil, Gas or Other Hydrocarbons (Refs & Annos)
2 CCR § 2162
§ 2162. Disposition of Royalty Oil in the Event of Default.
In the event purchaser fails to take the royalty oil as provided by the contract, the Executive Officer or his designee is authorized to dispose of the royalty oil in the most expeditious manner possible. All cost incurred therein shall be deemed as a charge against the purchaser. Purchaser shall be responsible to the State for the difference, if any, between the amount of money received by the State in such disposition and the amount due the State pursuant to the sales contract.
This database is current through 1/7/22 Register 2022, No. 1
2 CCR § 2162, 2 CA ADC § 2162
End of Document