45-7-9. Extension of lease on occurrence of contingency--Effect--Recording.
If any oil, gas, or mineral lease contains a statement of any contingency, the occurrence of which extends the lease for either a specified or an unspecified period of time, and that contingency has taken place, that lease may not be discharged or cancelled under the provisions of this chapter until the period of extension has run or until the contingency has ceased. Any such extension caused by reason of production shall be recorded by the lessee by filing an affidavit of production with the records of the property being leased in the office of the register of deeds.
Source: SL 1985, ch 342.
Structure South Dakota Codified Laws
Title 45 - Mining, Oil and Gas
Chapter 07 - Mineral, Oil And Gas Leases
Section 45-7-1 - Discharge and cancellation of record of lease--Marginal entry on record.
Section 45-7-3 - Expiration or forfeiture of lease--Release of record.
Section 45-7-4 - Demand for release--Service upon lease owner of record--Form.
Section 45-7-5 - Affidavit as to demand for release--Filing with register of deeds.
Section 45-7-7 - Affidavit as to demand for release--Recording by register of deeds, effect.
Section 45-7-8 - Action to obtain release--Damages--Attorney fees.
Section 45-7-9 - Extension of lease on occurrence of contingency--Effect--Recording.