Louisiana – HB444 MINERALS/RIGHTS-ROYALTY: Defines mineral production payments

Louisiana - HB444 MINERALS/RIGHTS-ROYALTY: Defines mineral production payments

Abstract: Defines mineral production payment.

Present law requires that if the owner of a mineral production payment or royalty owner other than a mineral lessor seeks relief for the failure of a mineral lessee to make timely or proper payment of royalties or production payments, he must give written notice prior to a judicial demand for damages.

Proposed law defines mineral production payment as an obligation owed to the purchaser to make a payment from the proceeds of production and is not a payment owed on production to an unleased mineral owner.

SOURCE: http://www.legis.la.gov/legis/BillInfo.aspx?i=233870

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