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Current as of January 01, 2024 | Updated by Findlaw Staff
As used in this chapter:
1. “First purchaser” means the first person who purchases oil or gas from an interest owner at or after the time the oil or gas is severed.
2. “Interest owner” means a person owning an entire or fractional interest of any kind or nature in the oil or gas at the time it is severed, or a person who has a right, either express or implied, to receive a monetary payment determined by the value of the oil or gas severed.
3. “Operator” means a person engaged in the severance of oil or gas.
4. “Purchaser” means a person who purchases oil or gas from a first purchaser.
5. “Severed” means the taking, extraction, or production from the land of oil or gas in any manner.
Cite this article: FindLaw.com - North Dakota Century Code Title 35. Liens § 35-37-01. Definitions - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-35-liens/nd-cent-code-sect-35-37-01/
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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