Okla. Stat. tit. 84, § 84-271.1
This is the official text of Okla. Stat. tit. 84, § 84-271.1, part of Oklahoma’s Stat. tit. 84, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 84,." Browse the sections below, each linked to its official government source.
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Abandoned mineral interests
Official statutory text
If the proceeds or other intangible property interest from any
mineral interests are abandoned for a period of fifteen (15) years,
as provided for in the Uniform Unclaimed Property Act, then the
mineral interest which generates the intangible property interest
shall not be subject to escheat, but shall be subject to judicial
sale by the state as provided for in Sections 273 through 277 of
this title.
If a judgment is rendered in favor of the state in such
proceedings, a sale of the mineral interest shall be ordered, then:
1. All abandoned mineral interests within a single production
unit shall be grouped together as far as practicable for purposes of
sale; and
2. Any interest sold by the state shall remain subject to all
prior valid pooling and drilling orders, rules, or regulations of
the Corporation Commission; and
3. The record owner or owners of the surface from which
abandoned mineral interests have been severed shall be mailed at the
last-known address as shown by the records of the county treasurer a
notice of the sale of such abandoned mineral interest at least
thirty (30) days prior to said sale; and
Oklahoma Statutes - Title 84. Wills and Succession Page 42
4. The successful bidder at said sale shall pay the costs and
expenses of bringing the action as determined by the court.
mineral interests are abandoned for a period of fifteen (15) years,
as provided for in the Uniform Unclaimed Property Act, then the
mineral interest which generates the intangible property interest
shall not be subject to escheat, but shall be subject to judicial
sale by the state as provided for in Sections 273 through 277 of
this title.
If a judgment is rendered in favor of the state in such
proceedings, a sale of the mineral interest shall be ordered, then:
1. All abandoned mineral interests within a single production
unit shall be grouped together as far as practicable for purposes of
sale; and
2. Any interest sold by the state shall remain subject to all
prior valid pooling and drilling orders, rules, or regulations of
the Corporation Commission; and
3. The record owner or owners of the surface from which
abandoned mineral interests have been severed shall be mailed at the
last-known address as shown by the records of the county treasurer a
notice of the sale of such abandoned mineral interest at least
thirty (30) days prior to said sale; and
Oklahoma Statutes - Title 84. Wills and Succession Page 42
4. The successful bidder at said sale shall pay the costs and
expenses of bringing the action as determined by the court.
Status: in_force · Read it on the official government site
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