Title 52 - Oil & Gas Code

§52-549.11. Rights of operator.


RIGHTS OF OPERATOR NOT IMPAIRED

This act does not impair an operator's right to be paid, set-off or withhold funds from another interest owner as security for or in satisfaction of any debt or security interest. In case of a dispute between an operator and another interest owner, a good-faith tender of funds by anyone operates as a tender of the funds to both in any of the following circumstances:

          1. To the person who the operator and other interest owner jointly direct the first purchaser in writing to pay;

          2. To a person who otherwise shows himself or herself to be the one entitled to the funds; or

          3. To a court of competent jurisdiction in the event of litigation or bankruptcy.

Added by Laws 2010, c. 142, § 11, emerg. eff. April 19, 2010.