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Texas Natural Resources Code

§ 89.028 — ESCROW FUNDS

NR § 89.028Title 3. OIL AND GAS · Part B. CONSERVATION AND REGULATION OF OIL AND GAS · Ch. 89. ABANDONED WELLS · Art. B-1. PLUGGING OF CERTAIN INACTIVE WELLS

Statute text

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(a)Escrow funds described by Section 89.023(a)(3)(F) must be deposited with the commission each time an operator files an application for an extension of the deadline for plugging an inactive well.
(b)Escrow funds deposited with the commission may be released only with the approval of the commission as prescribed by commission rule. Added by Acts 2009, 81st Leg., R.S., Ch. 442 (H.B. 2259), Sec. 2, eff. September 1, 2009. Amended by:

Legislative history

Acts 2011, 82nd Leg., R.S., Ch. 562 (H.B. 3134), Sec. 7, eff. June 17, 2011.

Source: Texas Natural Resources Code § 89.028 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.