N.M. Admin. Code § 19.2.2.58

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

Section 19.2.2.58 - APPROVAL OF LEASE ASSIGNMENTS

The commissioner will approve an assignment of mineral lease, in whole or in part, if the commissioner finds:

A. the assignment does not create an undivided interest in the lease or any part thereof;

B. the assigned portion of the premises is not less than a legal subdivision;

C. the assignment is executed in the proper form and by the proper person;

D. the lease is in good standing as to the assigned portion of the premises;

E. no litigation is pending that could affect the lease or the interest of any person therein;

F. the assignee has been pre-qualified pursuant to 19.2.2.21 NMAC; and

G. the assignment will not adversely affect the interests of the trust.

N.M. Admin. Code § 19.2.2.58

19.2.2.58 NMAC - N, 3/14/2001