ORS 522.515 When agreement or plan held not to violate state securities or trade law

A unit agreement or unitization plan under a board rule adopted or order issued pursuant to ORS 522.405 shall not be held or construed to violate ORS 59.005 to 59.505, 59.710 to 59.830, 59.991 and 59.995 or any state statute relating to trusts, monopolies or contracts and combinations in restraint of trade if the board has made a finding that the agreement is in the public interest for the protection of correlative rights and is necessary to enhance recovery of geothermal resources or to prevent waste.

Any voluntary unit agreement or plan for unitization between owners, holders of working interests and holders of royalty interests for the exploration, development and operation of a unit area shall not be held or construed to violate ORS 59.005 to 59.505, 59.710 to 59.830, 59.991 and 59.995 or any state statute relating to trusts, monopolies or contracts and combinations in restraint of trade if the agreement is approved by the board as being in the public interest for the protection of correlative rights and necessary to enhance recovery of geothermal resources or to prevent waste.

A voluntary agreement may be submitted to the board for approval as being in the public interest for the protection of correlative rights and necessary to enhance recovery of geothermal resources or to prevent waste. Board approval constitutes a complete defense to any proceeding charging violation of ORS 59.005 to 59.505, 59.710 to 59.830, 59.991 and 59.995 or of any state statute relating to trusts or monopolies on account of operations conducted pursuant to the agreement.

The failure to submit a voluntary agreement for board approval does not constitute evidence that the agreement or operation violates ORS 59.005 to 59.505, 59.710 to 59.830, 59.991 and 59.995 or any state statute relating to trusts or monopolies.