Statutes, codes, and regulations
New Mexico Administrative Code
Title 19 - NATURAL RESOURCES AND WILDLIFEChapter 2 - STATE TRUST LANDS PART 24 CULTURAL PROPERTIES PROTECTION
Part 3 - LEASING OF POTASSIUM, SULPHUR, SODIUM, PHOSPHORUS AND SIMILAR MINERALS AND THEIR SALTS AND COMPOUNDS EXCEPT SODIUM CHLORIDE
Section 19.2.3.10 - TERM

N.M. Admin. Code § 19.2.3.10

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Current through Register Vol. 35, No. 23, December 10, 2024
Section 19.2.3.10 - TERM

Leases will be made upon forms prescribed and furnished by the commissioner and ordinarily will be for a term of 10 years and so long thereafter as said minerals or any of them are produced in paying quantities from the lands. The commissioner reserves the right to issue leases for a lesser primary or fixed term than 10 years when under the circumstances the commissioner deems a shorter term to be in the best interests of the trust. (See 19.2.3.14 NMAC for extension of term by suspension of production).

N.M. Admin. Code § 19.2.3.10

12/31/99; 19.2.3.10 NMAC - Rn, 19 NMAC 3. SLO 3.10, 09/30/02, Amended by New Mexico Register, Volume XXX, Issue 11, June 11, 2019, eff. 6/11/2019