The original instrument and the following digest, which constitutes no part of the
legislative instrument, were prepared by McHenry Lee.
DIGEST
Proposed law provides that "payment" shall mean cash, a check, a draft or other form of
payment. Further provides that in the case of payment by a check, draft or other similar form of
payment, "acceptance of payment" shall not be deemed to occur until funds have been transferred
pursuant to a check, draft, or other similar form of payment.
Proposed law provides that whenever a landowner or owner of a mineral right receives payment
in connection with an offer to lease, buy, or acquire any portion of his mineral rights, the
acceptance of such payment shall not constitute an agreement to enter into a lease, sale, or
transfer of his mineral rights. Further provides that the party making the offer will have no cause
of action to require the owner of the mineral rights to enter into a lease, sale, or transfer of his
mineral rights.
Proposed law provides that when a landowner or owner of mineral rights accepts a payment, but
does not execute a written lease, sale, or transfer of his mineral rights, the party making the offer
will have 60 days to file a cause of action against the owner to recover the payment. Further
provides that the owner will have one year to submit payment against the cause of action.
Effective August 1, 2013.
(Adds R.S. 31:218)