The portion of the unit production allocated to any tract, and the proceeds from the sale thereof, shall be the property and income of the several persons to whom, or to whose credit, the same are allocated or payable under the order providing for unit operations.
§ 70-7-13 NMSA 1978
Income from unitized substances
Known as the Statutory Unitization Act
The act spans §§ 70-7-1 to 70-7-9 (21 sections).
1953 Comp., § 65-14-13, enacted by Laws 1975, ch. 293, § 13.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.