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2017 Indiana Code
TITLE 32. Property
ARTICLE 34. LOST OR UNCLAIMED PERSONAL PROPERTY
CHAPTER 1. Unclaimed Property Act
32-34-1-12. "Mineral proceeds"
Universal Citation: IN Code § 32-34-1-12 (2017)
IC 32-34-1-12 "Mineral proceeds"
Sec. 12. As used in this chapter, "mineral proceeds" means proceeds currently payable and unclaimed and, upon the abandonment of those proceeds, all proceeds that would have become payable, including the following:
(1) Obligations to pay resulting from the extraction, production, or sale of minerals, including the following:
(A) Net revenue interests.
(B) Royalties.
(C) Overriding royalties.
(D) Extraction and production payments.
(E) Joint operating agreements.
(F) Pooling arrangements.
(2) Obligations for the acquisition and retention of a mineral lease, including the following:
(A) Bonuses.
(B) Delay rentals.
(C) Shut-in royalties.
(D) Minimum royalties.
[Pre-2002 Recodification Citation: 32-9-1.5-12.]
As added by P.L.2-2002, SEC.19.
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