Illinois Compiled Statutes 225 ILCS 725/23.10 – The obligation or liability of each working interest owner for the …
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Terms Used In Illinois Compiled Statutes 225 ILCS 725/23.10
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
The obligation or liability of each working interest owner for the payment of unit expense shall at all times be several and not joint or collective, and in no event shall a working interest owner be chargeable with, obligated or liable, directly or indirectly, for more than the amount apportioned, assessed or otherwise charged pursuant to the plan of unitization.