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School and Institutional Trust Lands Management Act | |
Activities on Trust Lands | |
Section 403 | Mineral leases -- Director to establish forms, term, rental, and royalty. |
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53C-2-403. Mineral leases -- Director to establish forms, term, rental, and royalty. The director shall establish the: (1) form of a mineral lease application; (2) form of the lease; (3) term of the lease; (4) annual rental; (5) amount of royalty in addition to or in lieu of rental; and (6) basis upon which the royalty shall be computed.
Enacted by Chapter 294, 1994 General Session |
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