§ 36-5-109 — When rental due; procedure upon failure to pay

Upon notice provided not less than sixty (60) days before the
anniversary date of a lease, all rentals accruing to the state
by virtue of this act, except those for the first year, shall
become due and payable at the office of state lands and
investments on the anniversary date of the lease. If the rent is
not paid on the anniversary date, the office shall again notify
the lessee or the lessee's authorized agent by certified mail
that the lease may be cancelled if the rent and a late fee equal
to ten percent (10%) of the annual rental is not received within
thirty (30) days following the date of the certified notice. If
the lease is cancelled, the office shall as soon as possible
thereafter, advertise the lands in the county where located, as
vacant and subject to lease.