N.M. Admin. Code § 19.2.100.41

Current through Register Vol. 35, No. 23, December 10, 2024

Section 19.2.100.41 - RESTRICTIONS

Assignments shall not be accepted nor approved by the commissioner:

A. for less than assignor's entire interest in any legal subdivision (except where transfer is by operation of law);

B. for less than a legal subdivision;

C. in the names of more than two persons or legal entities. (See 19.2.100.20 NMAC);

D. in the name of a trusteeship unless the trust is expressly set forth and not more than two persons are named as trustee;

E. after lis pendens is filed;

F. for any assignment containing any language other than the approved form;

G. where the assignment covers acreage included in more than one lease;

H. if the lease is not in good standing; or

I. unless the assignor covenants to the assignee and the commissioner that the assigned leasehold estate is valid and subsisting and that all rental and royalties due thereunder have been properly paid.

N.M. Admin. Code § 19.2.100.41

19.2.100.41 NMAC - Rn, SLO Rule 1, Section 1.034, 12/13/2002, Adopted by New Mexico Register, Volume XXVII, Issue 12, June 30, 2016, eff. 6/30/2016