Sec. 2. If a person, firm, limited liability company, or corporation described in section 1 of this chapter: (1) fails to pay for the crude oil: (A) not more than sixty (60) days after the date of the examination and approval of title; and (B) after the purchasers have received executed division orders from the owners of interests; or (2) has failed to notify the known claimants of an interest of the purchaser's reason for nonpayment to the claimants of an interest; the purchaser shall pay interest at the rate of six percent (6%) per year on the unpaid balance from the date on which the purchaser was required to pay for the crude oil under this chapter to the date of payment. [Pre-2002 Recodification Citation: 32-5-9-1 part.] IC 32-23-10 Chapter 10. Lapse of Mineral Interest 32-23-10-1 "Mineral interest" defined 32-23-10-2 Statement of claims; filing; reversion 32-23-10-3 Presumption of use 32-23-10-4 Statement of claim; filing; time 32-23-10-5 Statement of claim; failure to file 32-23-10-6 Notice; lapse of interest 32-23-10-7 Dormant mineral interest record 32-23-10-8 Waiver
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