This form expresses the intent of the assignor in this assignment to assign and convey to assignee, subject to all the stated reservations and conditions in this assignment, all of assignor's rights, title, and interests on the Effective Date, in and to the oil and gas leases and lands that are the subject of this assignment, regardless, as to the descriptions, of the omission of any lease or leases, errors in description, any incorrect or misspelled names or any transcribed or incorrect recording references.
Oklahoma Entire Interest Assigned
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Multi-State
Control #:
US-OG-494
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Word;
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FAQ
Oklahoma Interest Rate Limits at a Glance Oklahoma's statutory interest rate limit is 6 percent unless stated otherwise through a valid contract (which may be as simple as agreeing to the "fine print"). Exceptions to this limit include pawnshops, small loans, and retail installment plans.
Penalty will be imposed when taxpayer fails to pay tax when due, and such failure is not corrected within 15 days after the tax becomes delinquent. Interest at the rate of 1.25% per month is due on any amount not paid by the due date.
(1) With respect to a consumer loan other than a supervised loan (Section 3-501), a lender may contract for and receive a loan finance charge, calculated ing to the actuarial method, not exceeding ten percent (10%) per year on the unpaid balances of the principal.
Statutory interest is 8% plus the Bank of England base rate for business-to-business transactions. You cannot claim statutory interest if your customer is a consumer (ie a private individual not acting in the course of a business). In this case, you can only claim interest if the contract sets a contractual rate.
If you receive oil and gas royalties in Oklahoma, the operator must pay within six months of the initial sale of production and by the end of the second month after subsequent sales. If they don't pay on time, you must be paid 12% interest compounded annually on the unpaid amounts as a royalty owner.
