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]
| 1 | 01/21 (H) Referred To Oil, Gas and Other Minerals | |
| 2 | 02/05 (H) Died In Committee |
| Effective date | July 1, 2002 | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| Vote type required | Majority |
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.
End Of Document
2002/html/History/HB/HB1013.htm