30 CFR 1219.101 - Receipts subject to an interest charge.

§ 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.
[49 FR 37347, Sept. 21, 1984. Redesignated and amended at 75 FR 61086, Oct. 4, 2010.]
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§ 1219.101 What receipts are subject to an interest charge?

(a) Subject to the availability of appropriations, the Office of Natural Resources Revenue (ONRR) will 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 any matters that may disallow distribution and disbursement. Such monies not disbursed by the last business day of the month following receipt by ONRR will accrue interest until paid.

(b) Upon resolution of any matters that may disallow distribution and disbursement, ONRR will disburse the suspended monies found due in paragraph (a) of this section, plus interest, to the State, under the provisions of § 1219.100.

(c) ONRR will apply paragraph (a) of this section to revenues that ONRR cannot disburse to the State because the payor/lessee provided to ONRR incorrect, inadequate, or incomplete information, which prevented ONRR from identifying the proper recipient of the payment.

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United States Code
U.S. Code: Title 30 - MINERAL LANDS AND MINING
Statutes at Large