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§ 287.12. Receipts as income

Oklahoma Statutes AnnotatedTitle 52. Oil and Gas

Oklahoma Statutes Annotated
Title 52. Oil and Gas (Refs & Annos)
Chapter 3. Conservation of Oil and Gas
Unitized Management of Common Sources of Supply (Refs & Annos)
52 Okl.St.Ann. § 287.12
§ 287.12. Receipts as income
Neither the unit production or proceeds from the sale thereof, nor other receipts shall be treated, regarded, or taxed as income or profits of the unit; but instead, all such receipts shall be the income of the several persons to whom or to whose credit the same are payable under the plan of unitization. To the extent the unit may receive or disburse said receipts it shall only do so as a common administrative agent of the persons to whom the same are payable.

Credits

Laws 1951, p. 141, § 12, emerg. eff. May 26, 1951.
52 Okl. St. Ann. § 287.12, OK ST T. 52 § 287.12
Current with emergency effective legislation through Chapter 3 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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