Definitions

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As used in this subchapter:

  1. (1) “Holder” means a person, wherever organized or domiciled, who is:

    1. (A) In possession of property that belongs to another;

    2. (B) A trustee; or

    3. (C) Indebted to another on an obligation;

  2. (2) “Mineral” means oil, gas, uranium, sulphur, lignite, coal, and any other substance that is ordinarily and naturally considered a mineral in this state, regardless of the depth at which the substance is found; and

  3. (3) “Mineral proceeds” means all obligations:

    1. (A) To pay resulting from the production and sale of minerals from this state; and

    2. (B) For the acquisition and retention of a mineral lease to produce minerals located in this state.


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