§ 9-17-68 — Revenues from Leases - Disposition

Alabama § 9-17-68

• Jurisdiction: Alabama
• Title 9: Conservation and Natural Resources
• Ch. 17: Oil and Gas
• Art. 2: Leases
• Div. 2: Leases by State

Text

The revenues that shall accrue under the provisions of this division from rentals, royalties and all other sources subject to the cost of administration shall be the property of the department or institution to which said lands belong or in which said department or institution shall own the beneficial interest. All revenue accruing from the lease of the bed of any navigable streams, waterways, bays, estuaries, lagoons, bayous, lakes and any submerged lands in the Gulf of Mexico within the historic seaward boundary of this state, subject to the cost of administration, shall be paid by the Commissioner of Conservation and Natural Resources to the State Treasurer to become a part of the General Funds of the State of Alabama. The Division of Lands of the Department of Conservation and Natural Resources shall be entitled to 10 percent of all revenues, including royalty, bonus and rentals, derived under the provisions of this division as cost of administration. Such cost of administration shall be covered into the State Treasury by the Commissioner of Conservation and Natural Resources to the credit of the State Lands Fund.

Legislative History

(Acts 1956, 1st Ex. Sess., No. 158, p. 224, §7; Acts 1969, No. 479, p. 935, §1.)