N.M. Admin. Code § 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).

Notes

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