§ 549.2. Definitions
Oklahoma Statutes AnnotatedTitle 52. Oil and GasEffective: November 1, 2021
Effective: November 1, 2021
52 Okl.St.Ann. § 549.2
§ 549.2. Definitions
DEFINITIONS
As used in the Oil and Gas Owners' Lien Act of 2010:
“Control” or “controlled by” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a person, whether through ownership, by contract or otherwise;
2. “Agreement to sell” means any enforceable agreement, whether express or implied, whether oral or written, by which an interest owner, either directly or through a representative, agrees to sell or is deemed by applicable contract or law to have agreed to sell oil or gas upon or after severance to a first purchaser;
a. a mortgage lien or security interest granted by a first purchaser in favor of a person not an affiliate of the first purchaser which mortgage lien or security interest secures payment under a written instrument of indebtedness signed by the first purchaser and accepted in writing by the payee thereof prior to April 19, 2010, with a principal amount and a fixed maturity stated therein; provided, however, a permitted lien does not include a mortgage lien or security interest which:
b. a validly perfected and enforceable lien created by statute or by rule or regulation of a governmental agency for storage or transportation charges, including terminal charges, tariffs, demurrage, insurance, labor or other charges, owed by a first purchaser in relation to oil or gas originally purchased under an agreement to sell; provided, however, a permitted lien does not include any such lien:
12. “Person” means any individual, executor, administrator, estate, agent, trust, trustee, institution, receiver, business trust, firm, corporation, partnership, limited liability company, cooperative, joint venture, governmental entity or agency, association or any other group or combination acting as a unit;
14. “Proceeds” means any of the following when paid or to be paid in consideration of, or as a consequence of, the sale of oil or gas under an agreement to sell: oil or gas on or after severance; inventory of raw, refined or manufactured oil or gas after severance; rights to or products of any of the foregoing; cash proceeds; accounts; chattel paper; instruments; documents; or payment intangibles with respect to any of the foregoing;
16. “Representative” means any person who is authorized, either expressly or by implication, including, without limitation, an operator or a broker so authorized, to sell oil or gas on behalf of, or for the benefit of, an interest owner under an agreement to sell or to receive on behalf of an interest owner the consideration under an agreement to sell;
Credits
Laws 2010, c. 142, § 2, emerg. eff. April 19, 2010; Laws 2021, c. 93, § 1, eff. Nov. 1, 2021.
52 Okl. St. Ann. § 549.2, OK ST T. 52 § 549.2
Current with emergency effective legislation through Chapter 90 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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