Contract rights not limited; legislative intent; regulation of
industry; construction of law
Sec. 8. (a) This chapter does not limit the rights of parties to
contract with regard to the oil and gas estate affecting lands in
Indiana:
(1) to the extent permitted by; and
(2) in a manner consistent with;
the nature of the estate in law as specified under this chapter.
(b) This chapter is intended to declare the law of this state with
regard to the subject matter treated in this chapter as the law existed
before March 5, 1951.
(c) This chapter does not affect the rights or powers of any
commission, board, or authority duly constituted for the regulation
of the oil and gas industry in Indiana.
As added by P.L.2-2002, SEC.8.
Last modified: May 24, 2006