N.M. Admin. Code § 19.2.4.12
Current through Register Vol. 35, No. 23, December 10, 2024
In lieu of advance royalty as provided in 19.2.4.11 NMAC, the lease may provide for payment of an annual payment at a negotiated rate, but not less than twenty-five dollars ($25.00) for each legal subdivision of forty (40) acres, more or less.
N.M. Admin. Code § 19.2.4.12