55-1615 Same; interest on certain payments required; commencement and amount of payments; exception.
55-1615. Same; interest on certain payments required; commencement and amount of payments; exception. The payor shall owe its payee interest on any payment, other than excluded payments, at the interest rate provided herein, determined on the first business day of the month that interest commences to accrue for that payment. For each subsequent month, the […]
55-1616 Same; force and effect of waivers.
55-1616. Same; force and effect of waivers. Any waiver of the interest provided by this act shall be of no force or effect, unless such waiver is evidenced by a written document executed by payee which clearly states that payee waives payee’s right to receive interest provided by this act by an express reference to […]
55-1601 Lapsing and reversion of mineral interests; definition.
55-1601. Lapsing and reversion of mineral interests; definition. As used in this act, “mineral interest” means an interest created by an instrument transferring, by grant, assignment, reservation or otherwise, an interest of any kind in coal, oil, gas or other minerals. History: L. 1983, ch. 185, § 1; July 1.
55-1602 Same; lapse and reversion, when.
55-1602. Same; lapse and reversion, when. An interest in coal, oil, gas or other minerals, if unused for a period of 20 years, shall lapse, unless a statement of claim is filed in accordance with K.S.A. 55-1604, and the ownership shall revert to the current surface owner. History: L. 1983, ch. 185, § 2; July […]
55-1603 Same; use of mineral interest defined.
55-1603. Same; use of mineral interest defined. (a) A mineral interest shall be considered to be used when: (1) There are any minerals produced under the interest; (2) operations are being conducted on the interest for injection, withdrawal, storage or disposal of water, gas or other fluid substances; (3) rentals or royalties are being paid […]
55-1604 Same; statement of claim, contents; filing, when and where; effect of failure to file.
55-1604. Same; statement of claim, contents; filing, when and where; effect of failure to file. (a) A statement of claim may be filed by the owner of a mineral interest prior to the end of the twenty-year period specified by K.S.A. 55-1602 or within three years after the effective date of this act, whichever is […]
55-1605 Same; notice of lapse by succeeding owner; contents; prima facie evidence, when.
55-1605. Same; notice of lapse by succeeding owner; contents; prima facie evidence, when. Upon the lapse of a mineral interest under K.S.A. 55-1602, any person who will succeed to the ownership of the interest shall give notice of the lapse of the mineral interest by publishing notice of the lapse in a newspaper of general […]
55-1606 Same; recordation by register of deeds of statement of claim or proof of notice.
55-1606. Same; recordation by register of deeds of statement of claim or proof of notice. Upon the filing of a statement of claim as provided in K.S.A. 55-1604 or the filing of proof of service of notice as provided in K.S.A. 55-1605, the register of deeds shall record the filing in a book to be […]
55-1607 Same; waiver of law prohibited.
55-1607. Same; waiver of law prohibited. The provisions of this act may not be waived at any time prior to the expiration of the twenty-year period provided in K.S.A. 55-1602. History: L. 1983, ch. 185, § 7; July 1.
55-1610 Development of minerals within city; definitions.
55-1610. Development of minerals within city; definitions. When used in this act: (a) “Minerals” mean oil and gas; (b) “city” means any city located within the state of Kansas. History: L. 1983, ch. 55, § 1; July 1.