N.M. Admin. Code § 19.2.2.19

Current through Register Vol. 36, No. 1, January 14, 2025

Section 19.2.2.19 - DISCLOSURE STATEMENT REQUIRED

A. Within fifteen days of being notified that it is the highest bidder, the highest bidder shall either submit a new disclosure statement to NMSLO or supplement an active disclosure statement previously submitted to NMSLO under 19.2.2.21 NMAC.

B. A person with personal knowledge of the information supplied shall sign and acknowledge the disclosure statement under oath.

C. The highest bidder shall assure that its disclosure statement is correct, accurate and complete. Before issuing a mineral lease, the commissioner may require the highest bidder to provide additional information or clarification. The highest bidder may be disqualified if the commissioner determines that the disclosure statement substantially misrepresents the highest bidder's qualifications or environmental compliance history. If such misrepresentation is discovered after the lease is executed, then the commissioner may cancel the lease and the lessee shall forfeit all rent, bonus and all other sums paid on account of the lease. However, in determining the correctness, accuracy and completeness of the disclosure statement, the commissioner will not consider new or changed circumstances occurring after the mineral lease is issued.

D. Pursuant to Section 19-1-2.1 NMSA 1978, the commissioner shall hold confidential "any confidential contract, reserve data or other confidential information" in the disclosure statement that is clearly marked as "confidential". Only information that is actually covered under Section 19-1-2.1 NMSA 1978 will be held as confidential.

N.M. Admin. Code § 19.2.2.19

19.2.2.19 NMAC -N, 3/14/2001