Statement of claim; failure to file
Sec. 5. Failure to file a statement of claim within the time
provided in section 4 of this chapter does not cause a mineral interest
to be extinguished if the owner of the mineral interest:
(1) was, at the time of the expiration of the period specified in
section 4 of this chapter, the owner of ten (10) or more mineral
interests in the county in which the mineral interest is located;
(2) made a diligent effort to preserve all the mineral interests
that were not being used and, not more than ten (10) years
before the expiration of the period specified in section 4 of this
chapter, preserved other mineral interests in the county by filing
statements of claim as required under this chapter;
(3) failed to preserve the mineral interest through inadvertence;
and
(4) filed the statement of claim required under this chapter:
(A) not more than sixty (60) days after publication of notice
as specified in section 6 of this chapter; and
(B) if a notice referred to in clause (A) is not published, not
more than sixty (60) days after receiving actual knowledge
that the mineral interest had lapsed.
As added by P.L.2-2002, SEC.8.
Last modified: May 24, 2006