N.M. Admin. Code § 19.2.2.22
Current through Register Vol. 35, No. 23, December 10, 2024
Prior to execution of a lease, the commissioner may determine that the mineral sale is not in the best interest of the trust and declare the sale void. The commissioner may declare a sale void if the commissioner determines that the bids are too low, not in accordance with law or otherwise not in the best interest of the trust. The commissioner may declare a sale void based on the disclosure statement or other information available to the commissioner. Prior to declaring a sale void under this section, the commissioner may provide the highest bidder with an opportunity to submit additional or new information, explanation or argument as to why the sale should not be declared void.
N.M. Admin. Code § 19.2.2.22