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Article 1. Mineral Development by a Majority of Cotenants
§37B-1-1. Short Title - This article shall be known as the Cotenancy Modernization and...
§37B-1-2. Declaration of Public Policy; Legislative Findings - It is declared to be the public policy of this...
§37B-1-3. Definitions - As used in this article: “Consenting Cotenant” means a tenant...
§37B-1-4. Lawful Use and Development by Cotenants; Election of Interests; Reporting and Remitting of Interests of Unknown or Unlocatable Cotenants; Establishment of Terms and Provisions for Development; and Merging of Surface and Oil and Gas - (a) If an operator or owner makes or has made...
§37B-1-5. Limitations of Liability for Certain Cotenants - Nonconsenting cotenants who elect to receive a production royalty pursuant...
§37B-1-6. Surface Use - (a) When any tract of mineral property where an interest...
§37B-1-7. Severability - The provisions of this article are severable and accordingly, if...
Article 2. Unknown and Unlocatable Interest Owners Act
§37B-2-1. Short Title - This article shall be known and may be cited as...
§37B-2-2. Relationship Between Unknown and Unlocatable Interest Provisions and Unclaimed Property Provisions - The provisions of this article shall be read in conjunction...
§37B-2-3. Definitions - Terms used in this article shall have the meanings as...
§37B-2-4. Report of Unknown and Unlocatable Interest Owners - (a) The holder shall make a report to the administrator...
§37B-2-5. Unknown and Unlocatable Interest Owners Fund; Duties of the State Treasurer - (a) The Unknown and Unlocatable Interest Owners Fund is created...
§37B-2-6. Crediting of Interest to Owner’s Account - (a) The administrator shall credit the amount of interest earned...
§37B-2-7. Rules - On or before July 1, 2018, the administrator shall promulgate...
§37B-2-8. Severability Clause - The provisions of this article are severable and accordingly, if...
§37B-2-9. Effective Date - This article shall take effect on July 1, 2018.