Okla. Stat. tit. 52, § 52-555
This is the official text of Okla. Stat. tit. 52, § 52-555, 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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Investment of funds - Apportionment of interest
Official statutory text
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;
2. Fifty percent (50%) to the State Treasurer but not more than
Two Hundred Thousand Dollars ($200,000.00) per year, to be spent for
advertising, personnel and other expenses incurred to search for the
rightful owners of unclaimed intangible property generated by
mineral interests; and
3. Any remaining interest shall be added to the principal of
the Mineral Owner's Fund.
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;
2. Fifty percent (50%) to the State Treasurer but not more than
Two Hundred Thousand Dollars ($200,000.00) per year, to be spent for
advertising, personnel and other expenses incurred to search for the
rightful owners of unclaimed intangible property generated by
mineral interests; and
3. Any remaining interest shall be added to the principal of
the Mineral Owner's Fund.
Status: in_force · Read it on the official government site
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