COMMISSIONERS OF THE LAND OFFICE
OKLAHOMA 2024 SESSION LAW SERVICE Fifty-Ninth Legislature, 2024 Second Regular Session
2024 Okla. Sess. Law Serv. Ch. 80 (S.B. 1514) (WEST)
OKLAHOMA 2024 SESSION LAW SERVICE
Fifty-Ninth Legislature, 2024 Second Regular Session
CHAPTER 80
S.B. No. 1514
COMMISSIONERS OF THE LAND OFFICE
An Act relating to the Commissioners of the Land Office; amending 52 O.S. 2021, Section 570.14, which relates to the Production Revenue Standards Act; providing certain statutes of limitations be applied to the Office; amending 64 O.S. 2021, Section 1073, which relates to oil and gas leases of the Office; conforming language; and providing an effective date.
SUBJECT: Commissioners of the Land Office
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
<< OK ST T. 52 § 570.14 >>
SECTION 1. AMENDATORY 52 O.S. 2021, Section 570.14, is amended to read as follows:
Section 570.14. A. The district courts within this state shall have the sole and exclusive jurisdiction to determine the entitlement of any owner in a well to:
1. Its share of proceeds from production; or
2. Damages, interest, court costs, attorneys' attorney fees or allowable litigation expenses incurred as a result of the violation of this act the Production Revenue Standards Act.
B. Any rulemaking power granted to the Corporation Commission by the Production Revenue Standards Act shall neither preclude nor impair the right of any owner to obtain through the district courts remedies available under existing law or additional remedies herein granted to any owner injured in business or property by reason of any action in violation of the provisions of the Production Revenue Standards Act.
C. Any owner injured in business or property by reason of any action in violation of the provisions of the Production Revenue Standards Act shall have the right to:
1. Recover actual damages so sustained; and
2. Obtain specific performance where equitable.
The prevailing party in any court proceeding brought pursuant to the Production Revenue Standards Act shall be entitled to recover the costs of the suit, including but not limited to reasonable attorney and expert witness fees.
D. 1. For purposes of the Production Revenue Standards Act, the statute of limitations on actions brought pursuant to the provisions of the Production Revenue Standards Act shall be five (5) years from the date the cause of action shall have accrued,; provided, however, nothing shall create, limit or expand any statute of limitations applicable to production occurring prior to September 1, 1992.
2. The statute of limitations provided for pursuant to this subsection shall also apply to the Commissioners of the Land Office.
<< OK ST T. 64 § 1073 >>
SECTION 2. AMENDATORY 64 O.S. 2021, Section 1073, is amended to read as follows:
Section 1073. A. The royalty proceeds derived from the sale of oil or gas production under any oil and gas lease granted by the Commissioners of the Land Office shall be paid to the Commissioners pursuant to the terms of the Production Revenue Standards Act.
B. The statute of limitations established pursuant to Section 570.14 of Title 52 of the Oklahoma Statutes shall apply to the Commissioners of the Land Office as it relates to the Production Revenue Standards Act.
SECTION 3. This act shall become effective November 1, 2024.
Approved April 22, 2024.
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