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2022 Indiana Code
Title 32. Property
Article 23. Conveyance of Property Interests Less Than Fee Simple
Chapter 9. Oil and Gas: Purchase of and Payment for Crude Oil
32-23-9-1. Time for Payment
Universal Citation:
IN Code § 32-23-9-1 (2022)
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Sec. 1. A person, firm, limited liability company, or corporation that purchases crude oil that is pumped from an oil well in Indiana shall pay for the crude oil:
(1) not more than sixty (60) days after the date of the examination and approval of abstracts of title that are furnished by owners of interests and that show good title in the owners of interests; and
(2) after the purchasers have received executed division orders from the owners of interests.
[Pre-2002 Recodification Citation: 32-5-9-1 part.]
As added by P.L.2-2002, SEC.8. Amended by P.L.86-2018, SEC.226.
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