Indiana Code 32-23-7-8. Contract rights not limited; legislative intent; regulation of industry; construction of law
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Sec. 8. (a) This chapter does not limit the rights of parties to contract with regard to an oil and gas estate or a coal bed methane estate in land affecting lands in Indiana:
(2) in a manner consistent with;
(1) to the extent permitted by; and
Terms Used In Indiana Code 32-23-7-8
- coal bed methane: has the meaning set forth in Indiana Code 32-23-7-0.3
- Contract: A legal written agreement that becomes binding when signed.
- oil and gas: means petroleum and mineral oils and gaseous substances of whatever character naturally lying or found beneath the surface of land. See Indiana Code 32-23-7-1
the nature of the estate in law as specified under this chapter.
(b) This chapter does not affect the rights or powers of any commission, board, or authority duly constituted for the regulation of the oil and gas industry or the coal bed methane industry in Indiana.
[Pre-2002 Recodification Citations: 32-5-7-4; 32-5-7-5; 32-5-7-6.]
As added by P.L.2-2002, SEC.8. Amended by P.L.140-2011, SEC.28.