Okla. Stat. tit. 52, § 52-523
This is the official text of Okla. Stat. tit. 52, § 52-523, part of Oklahoma’s Stat. tit. 52, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 52,." Browse the sections below, each linked to its official government source.
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Negotiations by receiver - Deposit of funds - Discharge -
Official statutory text
Costs.
Oklahoma Statutes - Title 52. Oil and Gas Page 217
Such receiver shall proceed immediately to enter into
negotiations with prospective purchasers and shall sell an oil and
gas lease on the interest of the defendant or defendants, said lease
to be for a primary term of not to exceed five (5) years from date
and as long thereafter as oil and gas, or either of them, is
produced in paying quantities from said land by the lessee. Said
lease shall not be sold for less than the minimum bonus, rentals and
royalties specified in the order of the court. All monies paid to
the receiver shall be by him deposited in the registry of the court
for the use and benefit of the defendants and thereupon the court
shall immediately discharge such receiver, and any future payments
paid under said oil and gas lease shall be paid directly into the
registry of the court and held for the use and benefit of the
defendant or defendants. The cost of the receiver and the court
cost shall be affixed by the court and shall be paid by the
plaintiff.
Oklahoma Statutes - Title 52. Oil and Gas Page 217
Such receiver shall proceed immediately to enter into
negotiations with prospective purchasers and shall sell an oil and
gas lease on the interest of the defendant or defendants, said lease
to be for a primary term of not to exceed five (5) years from date
and as long thereafter as oil and gas, or either of them, is
produced in paying quantities from said land by the lessee. Said
lease shall not be sold for less than the minimum bonus, rentals and
royalties specified in the order of the court. All monies paid to
the receiver shall be by him deposited in the registry of the court
for the use and benefit of the defendants and thereupon the court
shall immediately discharge such receiver, and any future payments
paid under said oil and gas lease shall be paid directly into the
registry of the court and held for the use and benefit of the
defendant or defendants. The cost of the receiver and the court
cost shall be affixed by the court and shall be paid by the
plaintiff.
Status: in_force · Read it on the official government site
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