N.M. Admin. Code § 19.2.4.11
Current through Register Vol. 35, No. 23, December 10, 2024
Royalties shall be determined through negotiation, but shall not be less than ten (10) percent of the actual sale price of the salt at the place of extraction. The royalty shall be paid quarterly and the commissioner may prescribe advance royalty to be paid annually on or before the anniversary date of the lease in such sums as the commissioner may determine in each case before issuance of the lease. Royalty accruing for the lease year for which such advance royalty payments are made will be credited against the advance royalty payment made for that year.
N.M. Admin. Code § 19.2.4.11