Oklahoma § 52-555 Investment of funds - Apportionment of interest.

Oklahoma Statutes

§ 52-555 — Investment of funds - Apportionment of interest.

Oklahoma § 52-555

Title 52Oil And Gas

This text of Oklahoma § 52-555 (Investment of funds - Apportionment of interest.) is published on Counsel Stack Legal Research, covering Oklahoma primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Okla. Stat. tit. 52, § 52-555 (2026).

Text

The State Treasurer shall invest the monies in the Mineral Owner's Fund and shall annually apportion the interest earned as follows: 1. Twenty-five percent (25%) to the Corporation Commission to be used for plugging abandoned oil and gas wells, pursuant to Sections 308 et seq. of this title, not to exceed Three Hundred Thousand Dollars ($300,000.00) per year; provided, that any amount that would cause funds available for that purpose to exceed Five Hundred Thousand Dollars ($500,000.00) in any one (1) year shall remain in the Mineral Owner's Fund; 2. Fifty percent (50%) to the State Treasurer but not more than Two Hundred Thousand Dollars ($200,000.00) per year, to be spent for advertising, personnel and other expenses incurred to search for the rightful owners of unclaimed intangible prop

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The State Treasurer shall invest the monies in the Mineral Owner's Fund and shall annually apportion the interest earned as follows: 1. Twenty-five percent (25%) to the Corporation Commission to be used for plugging abandoned oil and gas wells, pursuant to Sections 308 et seq. of this title, not to exceed Three Hundred Thousand Dollars ($300,000.00) per year; provided, that any amount that would cause funds available for that purpose to exceed Five Hundred Thousand Dollars ($500,000.00) in any one (1) year shall remain in the Mineral Owner's Fund; 2. Fifty percent (50%) to the State Treasurer but not more than Two Hundred Thousand Dollars ($200,000.00) per year, to be spent for advertising, personnel and other expenses incurred to search for the rightful owners of unclaimed intangible property generated by mineral interests; and 3. Any remaining interest shall be added to the principal of the Mineral Owner's Fund.