Section 90. Standards for escrow accounts

Latest version.

Payment of funds into escrow accounts shall be made in accordance with the standards established in each order of the board requiring such payment. In addition, the unit operator of a drilling unit subject to a voluntary pooling agreement may petition the board under 4VAC25-160-140 of this chapter for an order authorizing the escrow of funds subject to conflicting claims in accordance with board standards or regulations regarding escrow of such funds in units subject to a compulsory pooling order.

Historical Notes

Derived from VR480-05-22.2 § 9, eff. October 23, 1991.

Statutory Authority

§ 45.1-361.15 of the Code of Virginia.

                    
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