Mississippi Legislature
2002 Regular Session

House Bill 1013

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Bill Text

History of Actions

Background

Title

Description: Oil and gas wells; require operator of new wells to place royalty proceeds in escrow until paid to royalty owner.

Bill Text: [Introduced]

History of Actions:

1 01/21 (H) Referred To Oil, Gas and Other Minerals
2 02/05 (H) Died In Committee

Background Information:

Effective dateJuly 1, 2002
DispositionDead
DeadlineGeneral Bill/Constitutional Amendment
RevenueNo
Vote type requiredMajority

House Committee:

Principal Author: Shows*

Code Section: A 053-0003-0041

Title: AN ACT TO AMEND SECTION 53-3-41, MISSISSIPPI CODE OF 1972, TO REQUIRE THE OPERATOR OF A NEW OIL OR GAS WELL TO PLACE THE ROYALTY PROCEEDS IN AN ESCROW ACCOUNT IMMEDIATELY AFTER THE WELL BEGINS PRODUCING; TO REQUIRE THAT THE PROCEEDS SHALL REMAIN IN THE ESCROW ACCOUNT UNTIL THE PROCEEDS ARE DISBURSED TO THE ROYALTY OWNER; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 02/05/02 at 17:41.

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2002/html/History/HB/HB1013.htm