A. The Corporation Commission and the State Treasurer are to establish, administer and enforce rules and shall establish procedures for the full coordinated implementation of Section 551 et seq. of this title.
B. The operation of Section 551 et seq. of this title shall be prospective only and shall apply only to pooling proceedings filed after July 1, 1984. Any person holding monies described in Section 551 et seq. of this title on July 1, 1984, may transmit such monies to the Corporation Commission for the Mineral Owner's Fund, and be relieved of liability as provided by Section 551 et seq. of this title.
Added by Laws 1983, c. 320, § 8, eff. July 1, 1984. Amended by Laws 2001, c. 133, § 6, emerg. eff. April 24, 2001.