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11 Minerals, water, and other natural resources (a) To the extent that a trustee accounts for receipts from an interest in minerals or other natural resources pursuant to this section, the trustee shall allocate them as follows: (1) If received as a bonus, delay rental or annual rent on a lease, a receipt of less than one thousand dollars must be allocated to income and a receipt of one thousand dollars or more must be allocated fifteen percent to principal and eighty-five percent to income; (2) If received from a production payment, a receipt must be allocated to income if and to the extent that the agreement creating the production payment provides a factor for interest or its equivalent. The balance must be allocated to principal; (3) If received as a royalty, shut-in-well payment, or take-or-pay payment, a receipt must be allocated fifteen percent to principal and eighty-five percent to income; (4) If an amount is received from a working interest or any other interest not provided for in subparagraph (a)(1), (2), or (3), a receipt must be allocated fifteen percent to principal and eighty-five percent to income.

eceived from a working interest or any other interest not provided for in subparagraph (a)(1), (2), or (3), a receipt must be allocated fifteen percent to principal and eighty-five percent to income. (b) An amount received on account of an interest in water that is renewable must be allocated to income. If the water is not renewable, ninety percent of the amount must be allocated to principal and the balance to income. (c) This article applies whether or not a decedent or donor was extracting minerals, water, or other natural resources before the interest became subject to the trust. (d) If a trust exists on the effective date of this section, the trustee may allocate receipts from an interest in minerals, water, or other natural resources as provided in this section or in the manner used by the trustee before the effective date of this section. For every trust created after the effective date of this section, the trustee shall allocate receipts from an interest in minerals, water, or other natural resources as provided in this section. If and to the extent that the terms of a trust expressly provide for a different allocation of receipts or grants the trustee discretionary

er, or other natural resources as provided in this section. If and to the extent that the terms of a trust expressly provide for a different allocation of receipts or grants the trustee discretionary authority to determine the amount of the allocation, this section shall not apply to those receipts.