(a)(1) An oil and gas lien shall expire, as to an interest owner, five (5) years after the last day of the month following the date that proceeds from the sale of oil or gas subject to the oil and gas lien are required by law or contract to be paid to the interest owner, but only as to the oil or gas sold during that month, unless an action to enforce the oil and gas lien is commenced in a court of competent jurisdiction.
(2)In addition to a court of competent jurisdiction, an action to enforce the oil and gas lien may be commenced in the circuit court of the county in which the oil and gas well where the oil or gas is produced is located or in the circuit court of the county in which the unpaid-for oil or gas or the proceeds may be found.
(3)Notwithstanding subdivision (a)(1) of this s
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(a) (1) An oil and gas lien shall expire, as to an interest owner, five (5) years after the last day of the month following the date that proceeds from the sale of oil or gas subject to the oil and gas lien are required by law or contract to be paid to the interest owner, but only as to the oil or gas sold during that month, unless an action to enforce the oil and gas lien is commenced in a court of competent jurisdiction. (2) In addition to a court of competent jurisdiction, an action to enforce the oil and gas lien may be commenced in the circuit court of the county in which the oil and gas well where the oil or gas is produced is located or in the circuit court of the county in which the unpaid-for oil or gas or the proceeds may be found. (3) Notwithstanding subdivision (a)(1) of this section, the commencement of a proceeding by or against a person claiming an interest in property subject to the oil and gas lien shall toll the period of five (5) years in which to commence an action to enforce the oil and gas lien if the proceeding is seeking: (A) To adjudicate a person as bankrupt or insolvent; (B) Liquidation, winding up, reorganization, arrangement, adjustment, protection, relief, or composition of the person or the person's debts under a law relating to bankruptcy, insolvency, reorganization, or relief of debtors; or (C) Entry of an order for relief or the appointment of a receiver, trustee, or similar official for the person or for a substantial part of the person's property. (4) An action under subdivision (a)(3) of this section shall toll the period of five (5) years in which to commence an action to enforce the oil and gas lien for an additional period of ninety (90) days from the earlier of: (A) The final conclusion or dismissal of the proceedings; or (B) The date final relief is obtained from the applicable court authorizing the commencement of the action. (b) Proceedings to enforce an oil and gas lien involving more than one (1) oil and gas well in one (1) county can be joined by an interest owner in the same action. (c) (1) Any number of persons claiming oil and gas liens with respect to the oil or gas from the same oil and gas well or wells may join in the same action. (2) When separate actions are commenced, the circuit court may consolidate them. (d) The circuit court shall allow as part of the costs of the action all costs of collection, including without limitation reasonable attorney's fees for the prevailing party in the trial and appellate courts. (e) This subchapter does not impair or affect the right of an interest owner to maintain a personal action to recover the debt against a person liable for payment of the sales price or to exercise other rights and remedies available at law or in equity.