77-4-121. Provisions of the lease. (1) A lease issued by the board gives the lessee, so long as the lessee complies with the terms and conditions of the lease, the exclusive right of possession of the lands or interests leased, subject to conditions contained in the lease.
(2) In a geothermal resource lease granted there is reserved to this state the right to sell, lease, or otherwise dispose of the surface of the lands covered by the lease subject to the rights and privileges granted the lessee under the terms of the lease.
(3) A lease must specify the rental and royalty to be paid, reasonable forfeiture provisions, and reasonable terms under which the lessee may, within a specified time, remove property placed on the leased lands upon the termination of the lease by forfeiture or by lapse of time.
(4) The lease may contain other provisions that the board and the lessee agree upon that are not inconsistent with this part.
History: En. 81-2604 by Sec. 4, Ch. 111, L. 1974; R.C.M. 1947, 81-2604(part); amd. Sec. 2561, Ch. 56, L. 2009.
Structure Montana Code Annotated
Chapter 4. Renewable Resources
77-4-101. Geothermal leases authorized
77-4-104. Nature of geothermal resources
77-4-105. State retention of geothermal resources
77-4-106. Bonding requirements
77-4-107. Compensation to surface lessee
77-4-108. Water rights in connection with geothermal development
77-4-110. through 77-4-120 reserved
77-4-121. Provisions of the lease
77-4-124. Operating agreements
77-4-125. Pooling agreements and unit operations
77-4-126. Royalties and rentals
77-4-127. Disposition of royalties and other receipts