Louisiana Revised Statutes 31:214 – Applicability of Code to existing rights
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Terms Used In Louisiana Revised Statutes 31:214
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
The provisions of this Code shall apply to all mineral rights, including those existing on the effective date hereof; but no provision may be applied to divest already vested rights or to impair the obligation of contracts.
Acts 1974, No. 50, §214, eff. Jan. 1, 1975.