Texas Codes

Tex. Nat. Res. Code § 91.403 (2026)

Payment Of Interest On Late Payments

✓ current as of May 2026

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Sec. 91.403. PAYMENT OF INTEREST ON LATE PAYMENTS. (a) If payment has not been made for any reason in the time limits specified in Section 91.402 of this code, the payor must pay interest to a payee beginning at the expiration of those time limits at two percentage points above the percentage rate charged on loans to depository institutions by the New York Federal Reserve Bank, unless a different rate of interest is specified in a written agreement between payor and payee.

(b) Subsection (a) of this section does not apply where payments are withheld or suspended by a payor beyond the time limits specified in Section 91.402 of this code because of the conditions enumerated in Section 91.402 of this code.

(c) The payor's obligation to pay interest and the payee's right to receive interest under Subsection (a) of this section terminate on delivery of the proceeds and accumulated interest to the comptroller as provided by Title 6, Property Code.

Added by Acts 1983, 68th Leg., p. 966, ch. 228, Sec. 1, eff. Sept. 1, 1983. Amended by Acts 1985, 69th Leg., ch. 230, Sec. 18, eff. Sept. 1, 1985; Acts 1991, 72nd Leg., ch. 650, Sec. 3, eff. Aug. 26, 1991; Acts 1991, 72nd Leg., ch. 676, Sec. 1, eff. Sept. 1, 1991; Acts 1997, 75th Leg., ch. 1037, Sec. 39, eff. Sept. 1, 1997; Acts 1997, 75th Leg., ch. 1423, Sec. 14.15, eff. Sept. 1, 1997.

Notes of Decisions

Cited in 23 cases (4 in the last 5 years), 1987–2023 · leading case: Concord Oil Co. v. Pennzoil Expl. & Prod. Co., 966 S.W.2d 451 (Tex. 1998).

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Concord Oil Co. v. Pennzoil Expl. & Prod. Co., 966 S.W.2d 451 (Tex. 1998). · cites it 6× “TEX. NAT. RES.CODE § 91.403(b). There is no doubt that a dispute concerning title exists in this case.”

ConocoPhillips Co. v. Koopmann, 547 S.W.3d 858 (Tex. 2018). “See TEX. NAT. RES. CODE § 91.403 (providing for interest on late royalty payments).”

Edwin M. Jones Oil Co. v. Pend Oreille Oil & Gas Co., 794 S.W.2d 442 (Tex. App. 1990). · cites it 4× “Tex.Nat.Res. Code Ann.§ 91.403(b)(1) (Vernon Supp.”

Koch Oil Co. v. Wilber, 895 S.W.2d 854 (Tex. App. 1995). · cites it 2× “Tex.Nat.Res.Code Ann. § 91.403(a) (Vernon 1993) provides for an assessment of prejudgment interest against payors who wrongfully withhold funds.”

Prize Energy Resources, L.P. v. Cliff Hoskins, Inc., 345 S.W.3d 537 (Tex. App. 2011). “See Tex. Nat. Res. Code Ann. § 91.403 (a). In addition, the record of the bench trial clearly shows that BP’s and Hoskins’ right to recover their share of the proceeds under the TNRC *560 was a contested issue tried before the court.”

Samson Expl., LLC v. T. S. Reed Props., Inc., 521 S.W.3d 26 (Tex. App. 2015). · cites it 3× “Tex. Nat. Res.Code Ann. § 91.403 (West 2011).”

Stable Energy, L.P. v. Newberry, 999 S.W.2d 538 (Tex. App. 1999). “See Tex. Nat. Res.Code Ann. § 91.403(a) (West 1993).”

Headington Oil Co., LP v. White, 287 S.W.3d 204 (Tex. App. 2009). “Tex. Nat. Res.Code Ann. § 91.403 (Vernon 2001).”

Valence Operating Co. v. Anadarko Petroleum Corp., 303 S.W.3d 435 (Tex. App. 2010). “See Tex. Nat. Res.Code Ann. § 91.403(b). This action is for breach of contract.”

Bright & Co. v. Holbein Fam. Mineral Trust, 995 S.W.2d 742 (Tex. App. 1999). “See Tex. Nat. Res.Code Ann. § 91.403(a) (Vernon 1993).”

Michael I. Leavitt, Successor Testementary Tr. of the Bert Earl Gassaway Testamentary Trust & Successor Indep. Adm'r With Will Annexed of the Est. of Marie Anderson Gassaway v. Ballard Expl. Co., Inc., 540 S.W.3d 164 (Tex. App. 2017). “See TEX. NAT. RES. CODE ANN. § 91.403(b) (“Subsection (a) of this section does not apply where payments are withheld or suspended by a payor beyond the time limits specified in Section 91.”

MCZ, Inc. v. Andrus Resources, Inc. (In Re MCZ, Inc.), 82 B.R. 40 (Bankr. S.D. Tex. 1987). “Debtor alleges that it does not have to pay interest to Defendants pursu *43 ant to Texas Natural Resources Code, Section 91.”

Show all 23 citing cases →

— Tex. Nat. Res. Code § 91.403(a) — 7 cases

Koch Oil Co. v. Wilber, 895 S.W.2d 854 (Tex. App. 1995). “Tex.Nat.Res.Code Ann. § 91.403(a) (Vernon 1993) provides for an assessment of prejudgment interest against payors who wrongfully withhold funds.”

Stable Energy, L.P. v. Newberry, 999 S.W.2d 538 (Tex. App. 1999). “See Tex. Nat. Res.Code Ann. § 91.403(a) (West 1993).”

Bright & Co. v. Holbein Fam. Mineral Trust, 995 S.W.2d 742 (Tex. App. 1999). “See Tex. Nat. Res.Code Ann. § 91.403(a) (Vernon 1993).”

Samson Expl., LLC v. T. S. Reed Props., Inc., 521 S.W.3d 26 (Tex. App. 2015). “Tex. Nat. Res.Code Ann. § 91.403 (West 2011).”

Petty Bus. Enter., L.P. v. Chesapeake Expl., L.L.C. (Bankr. S.D. Tex. 2021).

— Tex. Nat. Res. Code § 91.403(b) — 6 cases

Concord Oil Co. v. Pennzoil Expl. & Prod. Co., 966 S.W.2d 451 (Tex. 1998). “TEX. NAT. RES.CODE § 91.403(b). There is no doubt that a dispute concerning title exists in this case.”

Valence Operating Co. v. Anadarko Petroleum Corp., 303 S.W.3d 435 (Tex. App. 2010). “See Tex. Nat. Res.Code Ann. § 91.403(b). This action is for breach of contract.”

Bomar Oil & Gas, Inc. v. D. Mark Loyd (Tex. App. 2009).

— Tex. Nat. Res. Code § 91.403(b)(1) — 1 case

Edwin M. Jones Oil Co. v. Pend Oreille Oil & Gas Co., 794 S.W.2d 442 (Tex. App. 1990). “Tex.Nat.Res. Code Ann.§ 91.403(b)(1) (Vernon Supp.”

— Tex. Nat. Res. Code § 91.403(b)(2) — 1 case

Concord Oil Co. v. Pennzoil Expl. & Prod. Co., 966 S.W.2d 451 (Tex. 1998). “TEX. NAT. RES.CODE § 91.403(b). There is no doubt that a dispute concerning title exists in this case.”

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