Kansas Statutes 55-1628. Same; powers and duties
Terms Used In Kansas Statutes 55-1628
- Act: means the provisions of Kan. See Kansas Statutes 55-1626
- board: means the Kansas oil and gas resources board as created by this act;
(c) "first purchaser" means:
(1) With regard to crude oil, the person to whom title first is transferred beyond the gathering tank or tanks, beyond the facility from which the crude oil was first produced, or both; and
(2) with regard to natural gas, the person to whom title first is transferred beyond the inlet side of the measurement station from which the natural gas was first produced;
(d) "independent producer" means a person who complies with both of the following:
(1) Produces oil or natural gas and is not engaged in refining either product; and
(2) derives a majority of income from ownership in properties producing oil or natural gas;
(e) "interest owner" means a person who owns or possesses an oil or gas leasehold interest in the gross production of oil or natural gas produced from a well in Kansas. See Kansas Statutes 55-1626
- Contract: A legal written agreement that becomes binding when signed.
- Person: means any individual, corporation, limited partnership, partnership, association, joint stock company, living trust, irrevocable trust, trust where the interest of the beneficiaries are evidenced by a security, an unincorporated organization, a government, a political subdivision of government, or any combination thereof. See Kansas Statutes 55-1614
- Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
The board shall have the following powers and duties, to:
(a) Administer and enforce the provisions of this act;
(b) establish an office for the board within the state of Kansas;
(c) elect a presiding officer and any other officers that may be necessary to direct the operations of the board;
(d) employ personnel as shall be deemed necessary to carry out the provisions of this act;
(e) administer the oil and gas resources fund;
(f) approve or disapprove the budget of the board;
(g) adopt rules as the board deems necessary to carry out the provisions of this act;
(h) enter into contracts or agreements for studies, research projects, experimental work, supplies or other services to carry out the purposes of this act; and to incur those expenses necessary to carry out such purposes. A contract or agreement entered into under this subsection shall provide that:
(1) The person entering the contract or agreement on behalf of the board shall develop and submit to the board a plan or project together with a budget that shows estimated costs to be incurred for the plan or project; and
(2) the person entering the contract or agreement shall keep accurate records of all such person’s transactions, account for funds received and expended and make periodic reports to the board of activities conducted and other reports that the board may require;
(i) keep accurate records of all financial transactions performed pursuant to this act. Such records shall be audited annually by an independent auditor and an annual report shall be compiled;
(j) accept and deposit into the oil and gas resources fund donations, grants, contributions and gifts from any public or private source; and
(k) keep an accurate record of all assessments collected.