Okla. Stat. tit. 68, § 68-1006
This is the official text of Okla. Stat. tit. 68, § 68-1006, part of Oklahoma’s Stat. tit. 68, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 68,." Browse the sections below, each linked to its official government source.
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Payment where ownership is in dispute - Assignment as
Official statutory text
security.
Whenever oil, gas or any other minerals upon which gross
production tax is paid under the laws of the State of Oklahoma, are
in litigation or dispute involving ownership of such oil, gas or
other minerals, subject to such tax, and such oil, gas or other
minerals are sold, the usual gross production tax, as provided by
law, shall be paid from the proceeds or funds in the hands of the
purchaser of such oil, gas or other minerals; and in lieu of payment
for such production, to the extent of such tax, the Tax Commission's
receipt therefor shall be accepted in lieu of money in settlement of
the purchase price of such production; and whenever any such oil,
gas or other minerals are assigned as security for debt or
Oklahoma Statutes - Title 68. Revenue and Taxation Page 386
otherwise, such tax shall be likewise paid by such assignee; and
such tax shall constitute a lien upon the interest assigned, which
shall be paramount to such indebtedness for which the assignment is
made; and whenever such tax shall become delinquent, the usual
penalty shall apply.
Whenever oil, gas or any other minerals upon which gross
production tax is paid under the laws of the State of Oklahoma, are
in litigation or dispute involving ownership of such oil, gas or
other minerals, subject to such tax, and such oil, gas or other
minerals are sold, the usual gross production tax, as provided by
law, shall be paid from the proceeds or funds in the hands of the
purchaser of such oil, gas or other minerals; and in lieu of payment
for such production, to the extent of such tax, the Tax Commission's
receipt therefor shall be accepted in lieu of money in settlement of
the purchase price of such production; and whenever any such oil,
gas or other minerals are assigned as security for debt or
Oklahoma Statutes - Title 68. Revenue and Taxation Page 386
otherwise, such tax shall be likewise paid by such assignee; and
such tax shall constitute a lien upon the interest assigned, which
shall be paramount to such indebtedness for which the assignment is
made; and whenever such tax shall become delinquent, the usual
penalty shall apply.
Status: in_force · Read it on the official government site
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