Current through L. 2020, ch. 90
Section 27-564 - Receipt and sale of royalty oilA. The department on its initiative and with the approval of the selection board may elect to receive royalty oil in kind from a lessee in lieu of a cash royalty, and the department may resell such royalty oil in the manner provided by the selection board.B. An Arizona refinery business may request the department to elect to receive a quantity certain of royalty oil to be resold during a period of not less than one hundred eighty days by the department at a time contemporaneous with receipt of the royalty oil by the department. The department, on receipt of a due, proper and complete application by an Arizona refinery business, may, without approval of the selection board, elect to receive and sell such royalty oil pursuant to section 27-567.