522.024 - “Division order” defined. - Nevada Statutes

522.024  “Division order” defined.  “Division order” means a written instrument executed for the purpose of:

      1.  Directing the distribution of the proceeds from the sale of the production from an oil or gas well among the owners of the interests in that production;

      2.  Setting forth the name and address of each of those owners; and

      3.  Enabling the purchaser of the production from an oil or gas well who is responsible for the distribution to make remittance directly to each of those owners.

      (Added to NRS by 1991, 960)