{"data":{"id":"us-ok/okla.-stat.-tit.-52-52-903","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 52, § 52-903","heading":"Failure to pay proceeds from production - Remedies","body":"Except for the right to enforce lien rights under private\n\nagreement or under Sections 548 through 549.12 of Title 52 of the\n\nOklahoma Statutes and except where specific remedies are provided by\n\nprivate agreement, and as long as paragraph 1 of subsection D of\n\nSection 570.10 of Title 52 of the Oklahoma Statutes provides for an\n\ninterest rate equal to or greater than twelve percent (12%)\n\ncompounded annually, the Production Revenue Standards Act shall\n\nprovide the exclusive remedy to a person entitled to proceeds from\n\nproduction for failure of a holder to pay the proceeds within the\n\ntime periods required for payment. The interest amounts set forth\n\nin subsection D of Section 570.10 and the remedies set forth in\n\nsubsection C of Section 570.14 of Title 52 of the Oklahoma Statutes,\n\nwith the term “actual damages” as used therein being limited to the\n\nproceeds due and the interest as provided in subsection D of Section\n\n570.10 of Title 52 of the Oklahoma Statutes, are deemed to be\n\nadequate remedies for failure to pay proceeds within the time\n\nperiods required for payment and no other penalty or damages shall\n\nbe recoverable in any litigation involving a claim for unpaid or\n\nunderpaid proceeds from production including, without limitation,\n\npunitive or exemplary damages or disgorgement damages, unless there\n\nshall be a determination by the finder of fact upon clear and\n\nconvincing evidence that the holder who failed to pay such proceeds\n\ndid so with the actual, knowing and willful intent: (a) to deceive\n\nthe person to whom the proceeds were due, or (b) to deprive proceeds\n\nfrom the person the holder knows, or is aware, is legally entitled\n\nthereto.","path":["OK Code","Title 52"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os52.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"771cd22732aba55be3030576779ca24e0e473085045b169797909e56743d8099","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-52-52-902","next":"us-ok/okla.-stat.-tit.-52-52-91"},"notice":"GroundRules: Original legal text. Not legal advice."}