§ 30:1170 — Written notice; requirement and effect on claims for damages or dissolution of lease

§1170. Written notice; requirement and effect on claims for damages or dissolution of lease
If a renewable energy lessor seeks relief from his lessee for any claim that the lessee
has failed to develop and operate the property leased as a prudent operator, the lessor shall
give his lessee written notice of the asserted breach of performance and allow a reasonable
time for performance by the lessee as a prerequisite to a judicial demand for damages or
dissolution of the lease. If a lessee is found to have had actual or constructive knowledge of
its failure to perform as a prudent operator and is held responsible for consequent damages,
the damages may be computed from the time a reasonably prudent operator would have
remedied the failure to perform. In other cases where notice is required by this Part, damages
may be computed only from the time the written notice was received by the lessee. The
parties may stipulate what constitutes a reasonable time for performance under this Section.

Legislative History

Acts 2023, No. 455, §1, eff. June 28, 2023.