Okla. Stat. tit. 52, § 52-549.9
This is the official text of Okla. Stat. tit. 52, § 52-549.9, 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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Waiver, relinquishment, release
Official statutory text
WAIVER
No interest owner shall be required, as a condition or term of
an agreement to sell or otherwise, to waive, relinquish or release
any oil and gas lien or any rights under this act other than upon
payment in full of the sales price or agree to any provision that
would apply the law of any state other than the State of Oklahoma
insofar as the same relates to rights under this act, and any such
purported waiver, relinquishment, release, or provision shall be
void as a matter of the public policy of this state.
Notwithstanding the preceding sentence, any interest owner or a
representative acting on behalf of an interest owner, may waive,
relinquish or release any oil and gas lien or any rights under this
act or agree to a provision that would apply the law of any state
other than the State of Oklahoma insofar as the same relates to
rights under this act only as to such interest owner’s oil and gas
rights provided the first purchaser either:
1. Posts a letter of credit in form and amount satisfactory to
the interest owner, or a representative acting on behalf of an
interest owner; or
2. Agrees to a binding contractual arrangement satisfactory in
form and substance to the interest owner, or a representative acting
on behalf of an interest owner to prepay or escrow the sales price
under an agreement to sell in form and substance satisfactory to the
interest owner and performs all of the first purchaser’s obligations
thereunder.
No interest owner shall be required, as a condition or term of
an agreement to sell or otherwise, to waive, relinquish or release
any oil and gas lien or any rights under this act other than upon
payment in full of the sales price or agree to any provision that
would apply the law of any state other than the State of Oklahoma
insofar as the same relates to rights under this act, and any such
purported waiver, relinquishment, release, or provision shall be
void as a matter of the public policy of this state.
Notwithstanding the preceding sentence, any interest owner or a
representative acting on behalf of an interest owner, may waive,
relinquish or release any oil and gas lien or any rights under this
act or agree to a provision that would apply the law of any state
other than the State of Oklahoma insofar as the same relates to
rights under this act only as to such interest owner’s oil and gas
rights provided the first purchaser either:
1. Posts a letter of credit in form and amount satisfactory to
the interest owner, or a representative acting on behalf of an
interest owner; or
2. Agrees to a binding contractual arrangement satisfactory in
form and substance to the interest owner, or a representative acting
on behalf of an interest owner to prepay or escrow the sales price
under an agreement to sell in form and substance satisfactory to the
interest owner and performs all of the first purchaser’s obligations
thereunder.
Status: in_force · Read it on the official government site
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