Oklahoma Code § 52-549.9

§ 52-549.9.

Waiver, relinquishment, release.

WAIVER

No interest owner shall be required, as a condition or term of

an agreement to sell or otherwise, to waive, relinquish or release

any oil and gas lien or any rights under this act other than upon

payment in full of the sales price or agree to any provision that

would apply the law of any state other than the State of Oklahoma

insofar as the same relates to rights under this act, and any such

purported waiver, relinquishment, release, or provision shall be

void as a matter of the public policy of this state.

Notwithstanding the preceding sentence, any interest owner or a

representative acting on behalf of an interest owner, may waive,

relinquish or release any oil and gas lien or any rights under this

act or agree to a provision that would apply the law of any state

other than the State of Oklahoma insofar as the same relates to

rights under this act only as to such interest owner’s oil and gas

rights provided the first purchaser either:

1. Posts a letter of credit in form and amount satisfactory to

the interest owner, or a representative acting on behalf of an

interest owner; or

2. Agrees to a binding contractual arrangement satisfactory in

form and substance to the interest owner, or a representative acting

on behalf of an interest owner to prepay or escrow the sales price

under an agreement to sell in form and substance satisfactory to the

interest owner and performs all of the first purchaser’s obligations

thereunder.

Added by Laws 2010, c. 142, § 9, emerg. eff. April 19, 2010.