Texas Property Code

§ 67.001 — DEFINITIONS

PR § 67.001Title 5. EXEMPT PROPERTY AND LIENS · Part B. LIENS · Ch. 67. OIL AND GAS LIENS

Statute text

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In this chapter:

(1)"Affiliate" means any person who:

(A)is controlled, directly or indirectly, by a first purchaser; or

(B)controls, directly or indirectly, a first purchaser.

(2)"Agreement to sell" means an enforceable agreement by an interest owner, directly or through a representative, to sell oil or gas on or after severance to a first purchaser. The term includes an agreement that is express or implied, whether oral or written.

(3)"Control" means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a person, whether through ownership, by contract, or otherwise.

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Legislative history

Added by Acts 2021, 87th Leg., R.S., Ch. 284 (H.B. 3794), Sec. 4, eff. September 1, 2021.