Montana Statutes
§ 77-3-116 — Royalty Provisions
Montana·Title 77 STATE LANDS·Ch. 3 ROCK, MINERAL, COAL, OIL, AND GAS RESOURCES·Part 1 Prospecting Permits and Mining Leases
77-3-116 . Royalty provisions. In every mining lease the board shall reserve to the state a royalty which shall, together with other considerations to be paid by the mining lessee, constitute the full market value as ascertained by the board of the leasehold interest conveyed by the lease. This royalty may not be less than 5% of the returns from or of the full market value of the metalliferous minerals or gems recovered by the lessee from the state lands or reserved mineral rights covered by the lease.
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Legislative History
En. Sec. 4, Ch. 148, L. 1937; amd. Sec. 2, Ch. 205, L. 1947; amd. Sec. 38, Ch. 428, L. 1973; R.C.M. 1947, 81-604(1).
Nearby Sections
15
§ 77-3-101
Definitions§ 77-3-103
Prospecting Permits Authorized§ 77-3-104
Notice Of Permit Or Lease Approval§ 77-3-105
Assignment Of Leases Or Permits§ 77-3-107
Through 77-3-110 Reserved§ 77-3-111
Applications For Mining Lease§ 77-3-112
Examination Of Lands Prior To Leasing§ 77-3-113
Quantity Of Lands Covered By Lease§ 77-3-115
Lease Provisions§ 77-3-116
Royalty Provisions§ 77-3-117
Modification Of Lease Provisions