Section 9:2152 - Proceeds of mineral interestsA. To the extent that a trustee accounts for receipts from an interest in mineral rights or other interest in oil, gas, or other minerals pursuant to this Section, the trustee shall allocate them as follows:(1) If received as delay rental or annual rent on a mineral lease, a receipt shall be allocated to income.(2) If received from a production payment, a receipt shall be allocated to income if and to the extent that the agreement creating the production payment provides a factor for interest or its equivalent. The balance shall be allocated to principal.(3) If received as a royalty, overriding royalty, shut-in payment, take-or-pay payment, or bonus, a receipt shall be allocated in accordance with what is reasonable and equitable in view of the interests of those entitled to income as well as of those entitled to principal.(4) If an amount is received from a working interest or any other interest not provided for in this Subsection, a receipt shall be allocated in accordance with what is reasonable and equitable in view of the interests of those entitled to income as well as of those entitled to principal.B. This Section applies whether or not a decedent or donor was extracting oil, gas, or other minerals before the interest became subject to the trust.C. If the trust property includes an interest in mineral rights or other interest in oil, gas, or other minerals on January 1, 2021, the trustee may allocate receipts from the interest as provided in this Section or in the manner used by the trustee before January 1, 2021. If the trustee acquires an interest in mineral rights or other interest in oil, gas, or other minerals after January 1, 2021, the trustee shall allocate receipts from the interest as provided in this Section.D. An allocation of a receipt under this Section is presumed to be reasonable and equitable if ninety percent is allocated to principal and ten percent to income. Any other allocation shall not be presumed to be unreasonable or inequitable.E. This Section is not applicable to timber, water, soil, sod, dirt, turf, mosses, shells, gravel, or other natural resources.Amended by Acts 2020, No. 17, §1, eff. Jan. 1, 2021.Amended by Acts 2020, No. 17,s. 1, eff. 1/1/2021.