N.M. Admin. Code § 19.2.2.44

Current through Register Vol. 35, No. 23, December 10, 2024

Section 19.2.2.44 - PRIMARY TERM OF MINERAL LEASE

A. All mineral leases shall be for a primary term of three years and so long thereafter as minerals are produced or mined in paying quantities.

B. Annual rent during the primary term shall be one dollar per acre, which amount shall be paid in advance each year.

19.2.2.44 NMAC - N, 3/14/2001