The Corporation Commission shall not finally approve the plugging of any well until the designated operator of such well files an affidavit stating that all monies arising out of the production or operation of such well: 1. have been paid to the rightful recipients over which said operator exercises control; or2. are being held in escrow; or3. have been transmitted to the Corporation Commission pursuant to the provisions of Sections 551 through 558 of this title.If any monies have not been paid as a result of being unable to locate the owner of such monies after the exercise of due diligence, or if any monies remain in escrow accounts, such monies shall be deposited immediately into the Mineral Owner's Fund. If any plugging bond has been submitted by the designated operator to the Corporation Commission, it shall not be released until the requirements of this section are met.Added by Laws 1983, c. 320, § 7, eff. July 1, 1984. Amended by Laws 1984, c. 212, § 1, emerg. eff. May 21, 1984.
Oklahoma Legal Code