AK SB52

Attorney general must determine that settlements on civil actions directly related to oil and gas leases are limited to issues necessary to settle the action, do not include unrelated matters, and do not alter constitutional, statutory, or regulatory procedures.

Settlement approval requirements do not apply to tax and regulatory matters under AS 43.05.070 or to matters related to oil and gas pipelines under the jurisdiction of the Regulatory Commission of Alaska or another regulatory agency.

"Oil and gas lease" is defined by reference to AS 43.55.900 for purposes of this section.

New requirements apply only to settlements entered into by the attorney general on or after the effective date of this Act.

Act takes effect immediately upon passage.