Allred v. Royalty Owners' Ass'n

ARNOLD, V. C. J.

This is an action to cancel a mineral conveyance and for accounting of royalty received by the grantee under same.

The essential facts are not in controversy.

The defendant is an incorporated association engaged in the business of managing mineral interests conveyed to and pooled by it. It has and exercises the power to lease or sell said interests transferred to it. Under its scheme of operation, a designated portion of the net proceeds from sale, lease bonuses or accrued royalties are retained by it for its services, and the remaining 75 per cent is disbursed proportionately…