Section 14-35-1-9 - Term of permit(a) The department shall determine the initial term of a permit, not to exceed ten (10) years. The department shall automatically continue a permit: (1) if commercial production and accompanying royalty payments are established by the end of the initial term; and(2) as long as production continues, not to exceed fifty (50) years.(b) If commercial production is not established within the initial term of a permit, the department may terminate the permit.(c) The department may terminate a permit at any time for failure of the permittee to comply with: (2) the rules adopted under this chapter.Pre-1995 Recodification Citation: 14-3-2-6 part.
As added by P.L. 1-1995, SEC.28.