All leases issued by the commissioner shall provide for an annual rental to be paid by the lessee in advance, the amount thereof to be fixed by the commissioner, but in no case shall the same be less than five cents (5 ) per acre for the primary term nor less than fifty cents (50 ) per acre for the secondary term; provided that the annual rental for any one lease shall not be less than ten dollars ($10.00).
History: 1953 Comp., § 7-9-22, enacted by Laws 1955, ch. 53, § 6.
Cross references. — For interest on delinquent payments of rental, see 19-1-3 NMSA 1978.
Law reviews. — For comment, "Taxation of the Uranium Industry: An Economic Proposal," see 7 N.M. L. Rev. 69 (1976-77).
Structure 2021 New Mexico Statutes
Article 8 - Lease of Mineral Lands
Section 19-8-1 - [Concealment of returns; defrauding state of royalty; penalty.]
Section 19-8-2 - [Inspection of lessee's books by commissioner.]
Section 19-8-4 - Leases for certain minerals; rentals; royalty.
Section 19-8-5 - [Term of lease.]
Section 19-8-6 - [Salt lease statutes excepted.]
Section 19-8-7 - [Rules and regulations authorized.]
Section 19-8-10 - [Saline leases; royalties; record of sales; conditions.]
Section 19-8-11 - [Term of saline lease; extension.]
Section 19-8-13 - [Mineral lands; development.]
Section 19-8-14 - Issuance of mineral leases authorized; minerals not included.
Section 19-8-15 - Minerals, lessees, legal subdivision defined.
Section 19-8-16 - Validation of existing leases and permits; renewals of permits prohibited.
Section 19-8-17 - Relinquishment of permits for conversion.
Section 19-8-18 - Term of leases.
Section 19-8-19 - [Terms of leases; stipulation of conditions under statute; filing and recording.]
Section 19-8-20 - Leases; stipulation; rental.
Section 19-8-23 - Covenants to market and develop.
Section 19-8-25 - Inspection of records; reports.
Section 19-8-26 - Relinquishment of leases.
Section 19-8-27 - Violation of lease; notice; forfeiture for noncompliance with demand.
Section 19-8-28 - Assignment of leases; form; approval; effect; lands in production.
Section 19-8-29 - Improvements removable upon termination of lease.
Section 19-8-30 - Area of lease.
Section 19-8-31 - Posting of open acreage; simultaneous applications.