CHAPTER 37B. MINERAL DEVELOPMENT.

ARTICLE 4. UNKNOWN AND UNLOCATABLE COAL INTEREST OWNERS ACT.

§37B-4-4. Report of unknown and unlocatable interest owners.

(a) A holder shall:

(1) Make a report to the administrator each calendar quarter concerning reserved interests for each unknown or unlocatable interest owner;

(2) Concurrently with the report required by subdivision (1) of this subsection, remit to the administrator the amount of the reserved interests; and

(3) Submit the report and remittances required by this subsection by the first day of the month following each calendar quarter.

(b) A report required by this section shall contain:

(1) A full legal description of the coal interest and any other information that identifies the interest;

(2) If known, the name, last known address, and Social Security number or taxpayer identification number of any unknown or unlocatable interest owner or apparent owner;

(3) Any date on which reserved interests became payable with respect to the property; and

(4) Any other information the administrator may prescribe by rule as necessary for the administration of this article.

(c) Prior to the date a report is due to be filed, the holder of reserved interests may request the administrator extend the filing deadline. The administrator may grant an extension for good cause.

(d) A holder is not liable to any person for wrongful use or appropriation of an interest owner’s personal information by another person described in the reports required by this section.

(e) A holder’s obligations regarding any unknown or unlocatable interest owner, as required by this chapter, are satisfied when the report and remittances required by this section are submitted to the administrator.

Bill History For §37B-4-4