{"data":{"id":"us-ok/okla.-stat.-tit.-60-60-175.411","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 60, § 60-175.411","heading":"Minerals, water, and other natural resources","body":"MINERALS, WATER, AND OTHER NATURAL RESOURCES\n\nA. To the extent that a trustee accounts for receipts from an\n\ninterest in minerals or other natural resources pursuant to this\n\nsection, the trustee shall allocate them as follows:\n\n1. If received as a bonus, delay rental or annual rent on a\n\nlease, a receipt of less than One Thousand Dollars ($1,000.00) must\n\nbe allocated to income and a receipt of One Thousand Dollars\n\n($1,000.00) or more must be allocated fifteen percent (15%) to\n\nprincipal and eighty-five percent (85%) to income;\n\n2. If received from a production payment, a receipt must be\n\nallocated to income if and to the extent that the agreement creating\n\nthe production payment provides a factor for interest or its\n\nequivalent. The balance must be allocated to principal;\n\n3. If received as a royalty, shut-in-well payment, or take-or-\n\npay payment, a receipt must be allocated fifteen percent (15%) to\n\nprincipal and eighty-five percent (85%) to income;\n\n4. If an amount is received from a working interest or any\n\nother interest not provided for in paragraph 1, 2, or 3 of this\n\nsubsection, a receipt must be allocated fifteen percent (15%) to\n\nprincipal and eighty-five percent (85%) to income.\n\nB. An amount received on account of an interest in water that\n\nis renewable must be allocated to income. If the water is not\n\nrenewable, ninety percent (90%) of the amount must be allocated to\n\nprincipal and the balance to income.\n\nC. This act applies whether or not a decedent or donor was\n\nextracting minerals, water, or other natural resources before the\n\ninterest became subject to the trust.\n\nD. If a trust exists on the effective date of this act, the\n\ntrustee may allocate receipts from an interest in minerals, water,\n\nor other natural resources as provided in this act or in the manner\n\nused by the trustee before the effective date of this act. For\n\nevery trust created after the effective date of this act, the\n\ntrustee shall allocate receipts from an interest in minerals, water,\n\nor other natural resources as provided in this act. If and to the\n\nextent that the terms of a trust expressly provide for a different\n\nallocation of receipts or grants the trustee discretionary authority\n\nto determine the amount of the allocation, this act shall not apply\n\nto those receipts.","path":["OK Code","Title 60"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os60.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"d2d1db8fc7c25325797c0122d478613c70a2b61c4e5d4019b8a805b9accb1958","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-60-60-175.410","next":"us-ok/okla.-stat.-tit.-60-60-175.412"},"notice":"GroundRules: Original legal text. Not legal advice."}