HB2779 S JUD AMT 3-6

Burrell 4809

The Committee on the Judiciary moved to amend the bill by striking out the title and substituting therefor a new title, to read as follows:

Com. Sub. for House Bill 2779—A BILL to amend and reenact §22-10-6 of the Code of West Virginia, 1931, as amended; to amend said code by adding thereto a new section, designated §37-4-9; and to amend and reenact §55-12A-7 of said code, all relating to assigning financial responsibilities for oil and gas estates; establishing priorities for reclamation or mitigation of damage when a bond is revoked for abandonment of or failure to repair an oil or gas well; providing for regular transfer of certain proceeds from oil or gas wells to the Oil and Gas Reclamation Fund after a partition action when there are unknown or unlocatable persons having an interest in the mineral estate; providing that oil and gas well proceeds held by a special receiver for a period of seven years be deposited into the Oil and Gas Reclamation Fund when potential owners of an interest in the mineral estate are unidentified or unlocatable after that period; providing and clarifying that certain deed provisions purporting to convey or reserve interests created by this article are void; providing for the transfers of certain unclaimed proceeds when these amendments to the code take effect; and authorizing rule making.

Adopted

Rejected