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Illinois Compiled Statutes 765 ILCS 520 — Oil and Gas Rights Act.

Illinois · statute · 765 ILCS 520 · 11 active provisions

11 active provisions.

765 ILCS 520/10

(1) In this Section: (a) "Payee" means any person or persons legally entitled to payment from the proceeds derived from the sale of oil or gas from an oil or gas well located in this State

(1) In this Section: (a) "Payee" means any person or persons legally entitled to payment from the proceeds derived from the sale of oil or gas from an oil or gas well located in this State. (b) "Payor" means the first purchaser of production of oil or gas from an oil or gas well, but the owner of the right to produce u…

IllinoisOil and Gas Rights Act.effective