The following terms as used in this Part shall have the following meanings ascribed to them: (1) "Owner" means owner at the time of severance. (2) "Purchases on the open market" means purchases made in the absence of any contract or agreement requiring the purchaser to make payment direct to the owner of oil, gas or other natural resources. (3) "Severed" means the point at which the natural resources are severed from the surface of the earth or water.
‹ Prev All Louisiana sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.