Indiana § 14-38-1-26 - Royalties
Full text of Indiana Indiana Code § 14-38-1-26 — Royalties, with citation guidance and answers to common questions.
§ 14-38-1-26. Royalties
Sec. 26. (a) This section applies when a royalty is required to be paid under this chapter:
(1) for oil, at the option of the commission:
(A) at the mouth of the wells into tanks provided by the commission; or
(B) into the pipeline with which the wells are connected, to the commission's credit; and
(2) for gas, including casinghead gas or other gaseous substance.
(b) The lessee shall account to the commission for the market value of the oil or gas at the well for all that is sold by the lessee or used by the lessee in the manufacture of gasoline or other products. At the election of the commission, instead of delivering the royalty, when oil in kind, the lessee shall purchase the oil at the oil's market value at the well when produced.
[Pre-1995 Recodification Citation: 14-4-3-22.]
As added by P.L.1-1995, SEC.31.
Frequently Asked Questions About Indiana § 14-38-1-26
What does Indiana Code § 14-38-1-26 cover?
Section 14-38-1-26 ("Royalties") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 14-38-1-26?
A common citation format is "Indiana Code § 14-38-1-26" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 14-38-1-26 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.