Time for payment
Sec. 1. (a) 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.
As added by P.L.2-2002, SEC.8.
Last modified: May 24, 2006