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15-74-707. Time of royalty payment — Monthly statements to royalty owner.
Arkansas Code — all titles (historical 2020) · legal_authorities
15-74-707. Time of royalty payment — Monthly statements to royalty owner.
(a) It shall be the duty of any purchaser of oil or gas to pay the royalty interest at the same time it pays the lessee or producer. However, the parties may expressly waive the time and manner of payment in writing.
(b) The purchaser shall at some time not later than the twelfth day of each month furnish each royalty owner with a statement showing the correct amount of oil or gas purchased during the previous month together with the correct amount paid each in interest therefor.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-74-707
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:15-74-707
Source file: gov.ar.code.title.15.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 45472832a3a03d6acfa474d384f1ceb06231dc5b3a2bf3d6b89e5670a5d68b2a
Source location: content.xml paragraph 25716
Stored source content
15-74-707. Time of royalty payment — Monthly statements to royalty owner.
(a) It shall be the duty of any purchaser of oil or gas to pay the royalty interest at the same time it pays the lessee or producer. However, the parties may expressly waive the time and manner of payment in writing.
(b) The purchaser shall at some time not later than the twelfth day of each month furnish each royalty owner with a statement showing the correct amount of oil or gas purchased during the previous month together with the correct amount paid each in interest therefor.
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