55-221. Same; duties of receiver; duties of court. 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, such lease to be for a primary term of not to exceed five years from date and as long thereafter as oil and gas, or either of them, is produced in paying quantities from the land by the lessee. The lease shall not be sold for less than the minimum bonus, rentals and royalties specified in the order of the court. All bonuses, rentals or other monies paid to the receiver for the execution or extension of the oil and gas lease shall be by the receiver deposited with the court for the use and benefit of the defendants. Upon production being obtained or the expiration of the lease, the court shall immediately discharge such receiver. The court shall hold and distribute the monies received in the same manner as property received by a court as proceeds of a class action as specified in subsection (a)(9) of K.S.A. 58-3935, and amendments thereto. Any and all future production payments or other benefits paid under such oil and gas lease shall be retained in suspense by the oil and gas purchasing company and held until further orders of the court or until required to be distributed pursuant to the uniform unclaimed property act, K.S.A. 58-3934 et seq., and amendments thereto. The cost of the receiver and the court cost shall be affixed by the court and shall be paid by the plaintiff.
History: L. 1973, ch. 218, § 3; L. 2008, ch. 53, § 1; July 1.
Structure Kansas Statutes
55-202 Same; action to obtain release; damages, costs and attorney's fees; attachment.
55-205 Record of lease as notice for definite term; extension upon contingency, affidavit.
55-206 Demand for release before bringing action; evidence.
55-208 Lien of subcontractor or materialman on gas and oil leasehold or pipeline.
55-209 Lien statement for labor or materials; filing and record in district court.
55-210 Same; enforcement of liens.
55-211 Lease of school grounds for drilling for oil and gas.
55-211b Same; validation of prior leases.
55-212 Lien of transporter of oil-field equipment, labor and materials; definitions.
55-215 Same; time for actions.
55-216 Certain leases unrecorded prior to January 1, 1952, void.
55-217 Same; certain assignments executed prior to January 1, 1925, not to be recorded.
55-218 Same; expunging certain purported assignments from records.
55-219 Receiver for minority mineral interest in action where location of defendant-owner unknown.
55-221 Same; duties of receiver; duties of court.
55-223 Implied covenant to explore and develop minerals established; burden upon lessee.
55-224 Same; presumption of breach of covenant, when.
55-225 Same; presumption overcome by proof of compliance.
55-226 Same; remedies for breach; authority of court.
55-227 Same; action for breach not permissible, when.
55-228 Same; waiver of presumption prohibited.
55-229 Same; substantive rights and remedies saved; presumption cumulative.