N.M. Admin. Code § 19.2.2.61
Current through Register Vol. 35, No. 23, December 10, 2024
Upon approval by the commissioner of a valid mineral lease assignment, the assignor shall stand relieved from all lease obligations to the commissioner with respect to the state trust resources embraced in the assignment. The state shall likewise be relieved from all obligations to the assignor as to such resources. Upon assignment, the assignee shall succeed to all of the rights and privileges of the assignor with respect to the assigned lease and shall, upon assignment, be liable for all obligations of the assignor as to the commissioner. Nothing in this section shall relieve any person from liability under the New Mexico Mining Act, comparable law, or any permit or authorization issued thereunder.
N.M. Admin. Code § 19.2.2.61