Utah Statutes
§ 53C-2-405 — Mineral leases -- Multiple leases on same land -- Lease terms.
Utah·Title 53C School and Institutional Trust Lands Management Act·Ch. 53C-2 Activities on Trust Lands·Part 53C-2-4 Mineral Leases
(1)(1)(a) Mineral leases, including oil, gas, and hydrocarbon leases, may be issued for prospecting, exploring, developing, and producing minerals described by rule as available for lease on any portion of trust lands or the reserved mineral interests of the trust.
(1)(b) (1)(b)(i) Leases may be issued for different types of minerals on the same land.
(1)(b)(ii) If leases are issued for different types of minerals on the same land, the leases shall include stipulations for simultaneous operations.
(1)(c) Leases may not be issued for the same resource on the same land.
(2)(2)(a) Each mineral lease issued by the administration shall provide for an annual rental of not less than $1 per acre per year.
(2)(b) However, a lease may provide for a rental credit, minimum rental, or minimum royalty
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Utah § 53C-2-405 (Mineral leases -- Multiple leases on same land -- Lease terms.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Chapter 39, 2005 General Session
Nearby Sections
15
§ 53C-1-101
Title.§ 53C-1-102
Purpose.§ 53C-1-103
Definitions.§ 53C-1-203
Board of trustees nominating committee -- Composition -- Responsibilities -- Per diem and expenses.§ 53C-1-204
Policies established by board -- Director.§ 53C-1-304
Rules to ensure procedural due process -- Board review of director action -- Judicial review.§ 53C-1-307
Annual report.