§ 555. Investment of funds--Apportionment of interest
Oklahoma Statutes AnnotatedTitle 52. Oil and Gas
52 Okl.St.Ann. § 555
§ 555. Investment of funds--Apportionment of interest
The State Treasurer shall invest the monies in the Mineral Owner's Fund and shall annually apportion the interest earned as follows:
1. Twenty-five percent (25%) to the Corporation Commission to be used for plugging abandoned oil and gas wells, pursuant to Sections 308 et seq. of this title, not to exceed Three Hundred Thousand Dollars ($300,000.00) per year; provided, that any amount that would cause funds available for that purpose to exceed Five Hundred Thousand Dollars ($500,000.00) in any one (1) year shall remain in the Mineral Owner's Fund;
Credits
Laws 1983, c. 320, § 5; Laws 1999, c. 10, § 36, eff. July 1, 1999; Laws 2003, c. 468, § 7, eff. July 1, 2003.
52 Okl. St. Ann. § 555, OK ST T. 52 § 555
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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