Sec. 551.1. Organizational reports

(a) Each person who is a principal or acts as an agent for another is any of the following activities within the State must file with the department an organizational report on a form the department prescribes:

(1) solution mining;

(2) drilling oil, gas, or solution mining wells;

(3) the production in the State oil and gas;

(4) the first purchase of oil and gas produced in the State;

(5) the storage in the State of gas;

(6) the practice of well abandonments and salvage of oil and gas subsurface equipment; or

(7) the first transportation of oil and gas produced in the State.

(b) Except as provided in subdivision (c) of this section, any person required to file an organizational report must file a new organizational report showing the new organizational information within 30 calendar days of the occurrence of the change of any fact stated on the most recent organizational report.

(c) Any corporation listed on the New York or American Stock Exchange must update its organizational report annually no later than March 31st.

(d) Any person required to file an organizational report must notify the department in writing within 30 calendar days of cessation or termination of his activities in the State that necessitated the filing of the report. A person ceasing or terminating activities relating to solution mining or to the production in the State of oil and gas must submit with that notification a list of all wells in the State of which that person at any time had an interest as owner that have not been plugged and abandoned to the satisfaction of the department in accordance with Part 555 of this Title, identifying each by well identification number and production status ( e.g., producing, shut-in, injection, disposal, etc.) and providing the name and complete mailing address of each unplugged well's new owner and the date of transfer.