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Ark. Code Ann. § 18-28-401

Definitions

Acts 1987, No. 362, § 1.

As used in this subchapter:

(1) “Holder” means a person, wherever organized or domiciled, who is: In possession of property that belongs to another;

(2) A trustee; or

(3) Indebted to another on an obligation;

(4) “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

(5) “Mineral proceeds” means all obligations: To pay resulting from the production and sale of minerals from this state; and

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

Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.