Utah § 40-11-11 - Geologic carbon storage amalgamation unit -- Procedure for establishment -- Operation.
Full text of Utah Utah Code § 40-11-11 — Geologic carbon storage amalgamation unit -- Procedure for establishment -- Operation., with citation guidance and answers to common questions.
§ 40-11-11. Geologic carbon storage amalgamation unit -- Procedure for establishment -- Operation.
Effective 5/4/2022 40-11-11.
Geologic carbon storage amalgamation unit -- Procedure for establishment -- Operation.
(1)
The board may hold a hearing to consider the need for the amalgamation of a tract for geologic carbon storage.
(2)
The board shall make an order providing for the amalgamation of a tract for geologic carbon storage, if the board finds that:
(a)
amalgamation is reasonably necessary for the purposes of this chapter; and
(b)
the value of amalgamation justifies proceeding against the nonconsenting owner's wishes.
(3)
The amalgamation order shall include:
(a)
a description of the lands and of the reservoir to become a storage facility;
(b)
a statement of the nature of the operations contemplated;
(c)
an allocation to the separately owned tracts in the amalgamation unit of the profits the storage facility receives, considering:
(i)
agreements among interested parties; and
(ii)
the relative value of the separately owned tracts within the amalgamation area;
(d)
a provision for adjustment among the owners of the amalgamation area for investments made prior to the amalgamation order;
(e)
a provision determining the allocation of costs among owners, and how the owners shall pay those costs;
(f)
any necessary provision for:
(i)
financing an owner; or
(ii)
carrying an owner;
(g)
a provision for the supervision and conduct of the storage facility operations, including a percentage vote for each owner;
(h)
additional provisions that are necessary and appropriate for carrying on the operation of the amalgamation unit; and
(i)
the designation of an operator of the amalgamation unit.
(4)
An amalgamation order described in Subsection (3) shall only be effective after the plan for operating the storage facility is approved in writing by:
(a)
owners whose obligations under the amalgamation order require them to pay not less than 70% of the costs for operating and constructing the facility; and
(b)
owners whose combined interest under the amalgamation order is not less than 70% of the profits from the operation of the storage facility.
Section 40-11-11 ("Geologic carbon storage amalgamation unit -- Procedure for establishment -- Operation.") is part of the Utah Code, the codified statutory law of Utah. 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 Utah § 40-11-11?
A common citation format is "Utah Code § 40-11-11" (Utah). 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 Utah law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.
How does Utah § 40-11-11 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah can advise on how this section applies to you. Contact your state or local bar association for a referral.
