Florida Division Order is a legal document that outlines the distribution of revenues generated from the production of oil and gas in the state of Florida. It is an agreement between the mineral rights owners and the operator or producer. A Division Order is crucial in ensuring a fair and accurate distribution of royalties to the rightful owners. The Florida Division Order contains essential information such as the legal description of the property, the names and addresses of the mineral rights owners, their respective ownership percentages, and the operator's contact details. It serves as a contract that establishes the terms and conditions for the distribution of royalties and provides a framework for resolving any disputes that may arise. There are different types of Florida Division Orders depending on the specific circumstances and agreements between the parties involved. Some common types include: 1. Standard Division Order: This is the most basic form of the Division Order, which outlines the standard terms and conditions for the distribution of royalties. It includes the essential information mentioned earlier and is widely used when there are no unique circumstances or special provisions to be addressed. 2. Modified Division Order: In certain cases, parties may choose to modify the standard Division Order to include additional terms or conditions. This could be done to address specific concerns or issues unique to the particular oil and gas lease. The modifications can include provisions regarding minimum royalty payments, expense deductions, or limitations on development activities. 3. Supplemental Division Order: A supplemental Division Order is used when there are changes or updates to the original Division Order. These changes could result from alterations in ownership percentages, transfer of mineral rights, or amendments to the original lease agreement. The supplemental Division Order ensures that the distribution of royalties reflects the current ownership structure accurately. 4. Suspense Division Order: In cases where there is uncertainty or disagreement regarding the proper ownership of mineral rights or when there are conflicting claims, a suspense Division Order may be used. This means that the operator will hold the royalties in suspense until the ownership dispute is resolved through legal means or consensus among the parties involved. In conclusion, Florida Division Order is a legal document that governs the distribution of revenues from oil and gas production in the state. It plays a crucial role in ensuring fair and accurate royalty payments to mineral rights owners. Depending on the circumstances, there are various types of Division Orders, including standard, modified, supplemental, and suspense Division Orders.
Florida Division Order
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Document Number 6- or 12-digit number assigned by the Division of Corporations when a business entity or registration is filed.
A registered agent is simply a person or entity appointed to accept service of process and official mail on your business's behalf. You can appoint yourself, or in many states, you can appoint your business to be its own registered agent.
A business entity with an active Florida filing or registration may serve as a registered agent. An entity cannot serve as its own registered agent. However, an individual or principal associated with the business may serve as the registered agent. The registered agent must have a physical street address in Florida.
Delaware enjoys corporate-friendly laws and a Court of Chancery. For this reason, Delaware corporations and LLCs tend to be more attractive to investors that are raising capital or looking to go public.
member LLC can be formed online, by mail, fax or inperson. A Florida SMLLC is no different in its formation and maintenance requirements. You must still designate a Florida registered agent and file a Florida LLC Annual Report each year.
Payment Options Make all checks payable to the Florida Department of State. Check and money orders must be payable in U.S. currency drawn from a U.S. bank. Credit cards accepted for filing online are MasterCard, Visa, Discover and American Express.
Because this person is signing legal documents on behalf of the corporation, they should have the authority to act on behalf of the corporation. The incorporator can also act as the registered agent once the incorporation is complete.
It is easy to designate yourself as a Florida registered agent when you form your Florida corporation or LLC. Just list your own name and address on the Articles of Incorporation or Articles of Organization that you file with the Florida Corporations Division. You will also need to sign as the registered agent.