Page:United States Statutes at Large Volume 50 Part 1.djvu/643

 618 75 TH CONGRESS, 1 ST SESSION-CA. 572-AUGUST 10, 1937 "The enumeration of the foregoing subjects shall not limit the scope of the authority of any State . "ARTICLE IV "Each State bound hereby agrees that it will, within a reasonable time, enact s tatute s, or i f such statut es have been e nacted then t hat it will continue the same in force, providing in effect that oil produced in violation of its valid oil and/or gas conservation statutes or any valid rule, order or regulation promulgated thereunder, shall be denied access to commerce ; and providing for stringent penalties for the waste of either oil or gas . "ARTICLE V "It is not the purpose of this compact to authorize the States joining herein to limit the production of oil or gas for the purpose of stabilizing or fixing the price thereof, or create or perpetuate monopoly, or to promote regimentation, but is limited to the purpose of conserving oil and gas and preventing the avoidable waste thereof within reasonable limitations . "ARTICLE VI "Each State joining herein shall appoint one representative to a commission hereby constituted and designated as The Interstate Oil Compact Commis sion, the dut y of which sa id commission shall be to make inquiry and ascertain from time to time such methods, prac- tices, circumstances and conditions as may be disclosed for bringing about conservation and the prevention of physical waste of oil and gas, and at such intervals as said commission deems beneficial it shall rep ort its findi ngs and recom mendations to the several S tates for adoption or rejection . "The Commission shall have power to recommend the coordination of the exercise of the police powers of the several states within their several jurisdictions to promote the maximum ultimate recovery from the petroleum reserves of said states, and to recommend measures for the maximum ultimate recovery of oil and gas. Said Commission shall organize and adopt suitable rules and regulations for the con- duct of its business. "No action shall be taken by the Commission except : (1) by the affir mative votes of the majorit y of the whol e number of t he com- pacting States, represented at any meeting and (2) by a concurring vote of a majority in interest of the compacting States at said meet- ing, such interest to be determined as follows : such vote of each State shall be in the decimal proportion fixed by the ratio of its daily avera ge production during the pr eceding calen dar half-year to the da ily av erage produc tion of the compa cting State s duri ng sai d period . "ARTICLE VII "No State by joining herein shall become financially obligated to any other State, nor shall the breach of the terms hereof by any State subject such State to financial responsibility to the other tates joining herein . "ARTICLE VIII "This compact shall expire September 1, 1937 . But any State joining herein may, upon sixty (60) days notice, withdraw herefrom . "The representatives of the signatory States have signed this agreement in a single original which shall be deposited in the