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§ 549.11. Rights of operator not impaired

Oklahoma Statutes AnnotatedTitle 52. Oil and Gas

Oklahoma Statutes Annotated
Title 52. Oil and Gas (Refs & Annos)
Chapter 12. Leases
Oil and Gas Owners' Lien Act (Refs & Annos)
52 Okl.St.Ann. § 549.11
§ 549.11. Rights of operator not impaired
RIGHTS OF OPERATOR NOT IMPAIRED
This act does not impair an operator's right to be paid, set-off or withhold funds from another interest owner as security for or in satisfaction of any debt or security interest. In case of a dispute between an operator and another interest owner, a good-faith tender of funds by anyone operates as a tender of the funds to both in any of the following circumstances:
1. To the person who the operator and other interest owner jointly direct the first purchaser in writing to pay;
2. To a person who otherwise shows himself or herself to be the one entitled to the funds; or
3. To a court of competent jurisdiction in the event of litigation or bankruptcy.

Credits

Laws 2010, c. 142, § 11, emerg. eff. April 19, 2010.
52 Okl. St. Ann. § 549.11, OK ST T. 52 § 549.11
Current with legislation of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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