The recently concluded 2021 Arkansas legislative session resulted in two new laws of interest to the mineral bar. Act No. 275, the Oil and Gas Lien Owners' Act of 2021, Ark. Code Ann. §§ 15-72-1101 to -1112 (effective 91 days after adjournment), established a lien in favor of "interest owners" (persons entitled to proceeds of oil and gas sales) in severed minerals and proceeds thereof, with priority dating from the moment of severance, to secure payment of such proceeds. The Act is substantially identical to Oklahoma's Oil and Gas Owners' Lien Act of 2010, Okla. Stat. tit. 52, §§ 549.1-.12, which was designed to give interest owners priority against other creditors of a marketer in the event of the marketer's bankruptcy.
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