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Current as of March 28, 2024 | Updated by Findlaw Staff
(a) Any leaseholder or operator who contracts for the sale of gas or oil to any pipeline company or other purchaser, under and by virtue of the terms of which the lessee receives a greater amount than the royalty owners in proportion to interest therein, or receives a bonus, or by any other means conspires with a purchaser to receive from the sale of the oil and gas more than his or her just proportionate share therefrom shall forfeit his or her rights in and to the leasehold premises.
(b) Any pipeline company or other purchaser of oil and gas who contracts with any lessee as set out in subsection (a) of this section to the injury of the royalty owners shall forfeit to the royalty owners treble value of the amount of oil or gas runs thus wrongfully taken from the royalty interest.
Cite this article: FindLaw.com - Arkansas Code Title 15. Natural Resources and Economic Development § 15-74-708. Forfeiture activities - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-15-natural-resources-and-economic-development/ar-code-sect-15-74-708/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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