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2010 SESSION

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HB 1344 Coalbed methane gas; Gas & Oil Board to order arbitration to resolve conflicting claim of ownership.

Introduced by: Terry G. Kilgore | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Coalbed methane gas; conflicting claims of ownership; arbitration.   Requires that the Virginia Gas and Oil Board order arbitration to resolve conflicting claims of ownership over coalbed methane upon the written request of all parties claiming ownership. The arbitrator shall be appointed by the circuit court from a list of qualified persons maintained by the Department of Mines, Minerals, and Energy. To qualify as an arbitrator, a candidate (i) shall be an attorney licensed in the Commonwealth; (ii) shall have at least 10 years of experience in real estate law, including substantial expertise in mineral title examination; and (iii) shall disclose to the Board whether he has been engaged within the preceding three years by any person in matters subject to the jurisdiction of the Board or the Department. The arbitrator shall make a determination within six months and, after receiving notice of the written determination, the Gas and Oil Board must disburse any proceeds held in escrow and owing to the owner of the coalbed methane gas interest. The costs of the arbitrator shall be paid from the accrued interest on general escrow account funds. If the Department finds, at the outset of the request for arbitration, that there are insufficient funds to pay the estimated costs of the arbitration, the claimants may, by unanimous agreement, proceed with the arbitration process, notify the Board of such agreement, and bear the costs to the extent of the insufficiency. If the parties do not agree, the arbitration shall be delayed until such funds are available.


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