§ 19-10-39 — [Litigation involving lessee's oil and gas rights on land

New Mexico § 19-10-39

• Jurisdiction: New Mexico
• Ch. 19: Public Lands
• Art. 10: Lease of Oil and Gas Lands

Text

sold with reservation of oil and gas; suspense account for royalty payments.] In any case where litigation has been instituted in the state courts of the state of New Mexico, or in the United States district court for the district of New Mexico, involving the right or title of the lessee under any oil and gas leases issued by the state of New Mexico on lands heretofore sold or contracted to be sold by the state of New Mexico, with a reservation of oil and gas to the state of New Mexico, where such litigation calls in question the right of the state of New Mexico to make any such lease or the ownership by the state of New Mexico of such oil and gas, the commissioner of public lands is authorized to place in a special suspense fund with the treasurer of the state of New Mexico, all moneys accruing to the state under the terms of any such lease from royalties.

Legislative History

Laws 1931, ch. 17, § 1; 1941 Comp., § 8-1132; 1953 Comp., § 7-11-33.