| |
| |
| |
|
|
AN ACT
|
|
|
relating to the manner in which a payor of proceeds derived from the |
|
|
sale of oil or gas production is required to provide certain |
|
|
information to a royalty interest owner. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Sections 91.501 and 91.506, Natural Resources |
|
|
Code, are amended to read as follows: |
|
|
Sec. 91.501. INFORMATION REQUIRED. If payment is made to a |
|
|
royalty interest owner from the proceeds derived from the sale of |
|
|
oil or gas production pursuant to a division order, lease, |
|
|
servitude, or other agreement, the payor shall include the |
|
|
information required by Section 91.502 on the check stub, an |
|
|
attachment to the payment form, or another remittance advice that |
|
|
accompanies the payment. |
|
|
Sec. 91.506. EXEMPTION. (a) Except as provided by |
|
|
Subsection (b), if [If] the information required by Section 91.502 |
|
|
is provided in some other manner on a monthly basis, the payor is |
|
|
not required to include the information on the check stub, an |
|
|
attachment to the payment form, or another [other] remittance |
|
|
advice that accompanies the payment. |
|
|
(b) If payment is made to the royalty interest owner by a |
|
|
paper check delivered by mail or by means of a private delivery |
|
|
service, the payor may not provide the information required by |
|
|
Section 91.502 in a manner other than by including the information |
|
|
on the check stub, an attachment to the payment form, or another |
|
|
remittance advice that accompanies the payment unless the payor |
|
|
obtains, or a previous payor has obtained, the consent of the |
|
|
royalty interest owner to provide the information in some other |
|
|
manner. |
|
|
SECTION 2. The change in law made by this Act applies only |
|
|
to a payment made on or after the effective date of this Act to a |
|
|
royalty interest owner from the proceeds derived from the sale of |
|
|
oil or gas production. A payment made before the effective date of |
|
|
this Act to a royalty interest owner from the proceeds derived from |
|
|
the sale of oil or gas production is governed by the law in effect on |
|
|
the date the payment is made, and the former law is continued in |
|
|
effect for that purpose. |
|
|
SECTION 3. This Act takes effect September 1, 2017. |
| |
| |
| |
______________________________ |
______________________________ |
| |
President of the Senate |
Speaker of the House |
| |
| |
|
|
I certify that H.B. No. 129 was passed by the House on May 9, |
|
|
2017, by the following vote: Yeas 147, Nays 0, 1 present, not |
|
|
voting; and that the House concurred in Senate amendments to H.B. |
|
|
No. 129 on May 20, 2017, by the following vote: Yeas 133, Nays 0, 2 |
|
|
present, not voting. |
|
|
|
|
|
______________________________ |
|
|
Chief Clerk of the House |
| |
|
|
I certify that H.B. No. 129 was passed by the Senate, with |
|
|
amendments, on May 19, 2017, by the following vote: Yeas 30, Nays |
|
|
1. |
|
|
|
|
|
______________________________ |
|
|
Secretary of the Senate |
|
|
APPROVED: __________________ |
|
|
Date |
|
|
|
|
|
__________________ |
|
|
Governor |