Okla. Stat. tit. 52, § 52-555: Investment of funds - Apportionment of interest
Where this section sits in the code
- OK Code
- Title 52
The State Treasurer shall invest the monies in the Mineral
Owner's Fund and shall annually apportion the interest earned as
follows:
1. Twenty-five percent (25%) to the Corporation Commission to
be used for plugging abandoned oil and gas wells, pursuant to
Sections 308 et seq. of this title, not to exceed Three Hundred
Thousand Dollars ($300,000.00) per year; provided, that any amount
that would cause funds available for that purpose to exceed Five
Hundred Thousand Dollars ($500,000.00) in any one (1) year shall
remain in the Mineral Owner's Fund;
2. Fifty percent (50%) to the State Treasurer but not more than
Two Hundred Thousand Dollars ($200,000.00) per year, to be spent for
advertising, personnel and other expenses incurred to search for the
rightful owners of unclaimed intangible property generated by
mineral interests; and
3. Any remaining interest shall be added to the principal of
the Mineral Owner's Fund.
Collected 2026-09-14T18:32:36Z. Source file · JSON