CFR

1219.101—Receipts subject to an interest charge.

(a) Subject to the availability of appropriations, the Office of Natural Resources Revenue (ONRR) shall pay the State its proportionate share of any interest charge for royalty and related monies that are placed in a suspense account pending resolution of matters which will allow distribution and disbursement. Such monies not disbursed by the last business day of the month following receipt by ONRR shall accrue interest until paid.

(b) Upon resolution, the suspended monies found due in paragraph (a) of this section, plus interest, shall be disbursed to the State under the provisions of § 1219.100.

(c) Paragraph (a) of this section shall apply to revenues which cannot be disbursed to the State because the payor/lessee provided incorrect, inadequate, or incomplete information to ONRR which prevented ONRR from properly identifying the payment to the proper recipient.

Code of Federal Regulations

[49 FR 37347, Sept. 21, 1984. Redesignated and amended at 75 FR 61086, Oct. 4, 2010.]

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