Arkansas § 18-28-401 Definitions

Arkansas Statutes

§ 18-28-401 — Definitions

As used in this subchapter:

(1)"Holder" means a person, wherever organized or domiciled, who is:

(A)In possession of property that belongs to another;

(B)A trustee; or (C) Indebted to another on an obligation;

(2)"Mineral" means oil, gas, uranium, sulphur, lignite, coal, and any other substance that is ordinarily and naturally considered a mineral in this state, regardless of the depth at which the substance is found; and (3) "Mineral proceeds" means all obligations:

(A)To pay resulting from the production and sale of minerals from this state; and (B) For the acquisition and retention of a mineral lease to produce minerals located in this state.

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As used in this subchapter: (1) "Holder" means a person, wherever organized or domiciled, who is: (A) In possession of property that belongs to another; (B) A trustee; or (C) Indebted to another on an obligation; (2) "Mineral" means oil, gas, uranium, sulphur, lignite, coal, and any other substance that is ordinarily and naturally considered a mineral in this state, regardless of the depth at which the substance is found; and (3) "Mineral proceeds" means all obligations: (A) To pay resulting from the production and sale of minerals from this state; and (B) For the acquisition and retention of a mineral lease to produce minerals located in this state.

Arkansas § 18-28-401 (Definitions) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.