458A.10 - LIENS FOR DEVELOPMENT AND OPERATING COSTS.
458A.10 LIENS FOR DEVELOPMENT AND OPERATING COSTS. A person to whom another is indebted for expenses incurred in drilling and operating a well on a drilling unit required to be formed as provided for in section 458A.8, may, in order to secure payment of the amount due, fix a lien upon the interest of the debtor in the production from the drilling unit or the unit area, as the case may be, by filing for record, with the recorder of the county where property involved, or any part thereof, is located, an affidavit setting forth the amount due and the interest of the debtor in such production. The person to whom the amount is payable may, at the expense of the debtor, store all or any part of the production upon which the lien exists until the total amount due, including reasonable storage charges, is paid or the commodity is sold at foreclosure sale and delivery is made to the purchaser. The lien may be foreclosed as provided for with respect to foreclosure of a lien on chattels.
Section History: Early Form [C66, 71, 73, 75, 77, 79, 81, § 84.10]
Section History: Recent Form C93, § 458A.10 Referred to in § 458A.8