North Carolina Surface Use Agreement Establishing Amounts Lessee Will Pay For Road and Location Damages

State:
Multi-State
Control #:
US-OG-152
Format:
Word; 
Rich Text
Instant download

Description

This is a form of agreement that would be entered into in connection with an oil and gas lease and provides for the sum to be paid for drill site locations and roads.

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FAQ

Is an operating agreement required in South Carolina? South Carolina state law doesn't require LLCs to adopt an operating agreement. SC Code § 33-44-112 (2019) states that LLCs may adopt an operating agreement, not that they must.

Texas does not require an operating agreement in order to form an LLC, but executing one is highly advisable.

These documents are ?internal? because they are not filed with the state; therefore, unlike the charter documents, these documents are not publicly accessible (unless the company makes them public). For LLCs that document is your operating agreement.

No, it's not legally required in North Carolina under § 57D-2-30. Single-member LLCs need an operating agreement to preserve their corporate veil and to prove ownership. And multi-member LLCs need one to help provide operating guidance, determine voting rights and contributions.

A surface use agreement, which is also sometimes referred to as a land use agreement, is an agreement between the landowner and an oil and gas company or an operator for the use of the landowner's land in the development of the oil and gas.

Florida law does not require that a Limited Liability Company (LLC) have an Operating Agreement. But similarly to a personal estate plan, if you don't create one, the state essentially creates one for you!

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North Carolina Surface Use Agreement Establishing Amounts Lessee Will Pay For Road and Location Damages