Indiana § 32-23-9-1 Time for payment

Indiana Statutes

§ 32-23-9-1 — Time for payment

Indiana § 32-23-9-1

Title 32PROPERTY

Art. 23CONVEYANCE OF PROPERTY INTERESTS

Ch. 9Oil and Gas: Purchase of and Payment for Crude Oil

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Bluebook

Ind. Code § 32-23-9-1 (2026).

Text

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.]

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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.]