2018 Louisiana Laws
Revised Statutes
TITLE 30 - Minerals, Oil, and Gas and Environmental Quality
RS 30:148.5 - Submission and opening of bids; execution of leases
§148.5. Submission and opening of bids; execution of leases
A. Sealed bids shall be mailed or delivered to the lessor at the time and place designated in the advertisement and shall be held confidential by the lessor.
B. On the date and at the time and place advertised, the bids shall be publicly opened by the lessor. The lessor may accept the bid or bids submitted that are determined to be the most advantageous to the lessor and may execute any lease granted under such terms and conditions as it may deem proper in accordance with the provisions of this Subpart. The lessor, however, shall have the right to reject all bids in its sole discretion. All leases signed by the lessor or by the lessor's duly authorized representative shall be executed in as many copies as may be necessary to meet the following requirements: one copy shall be furnished to the lessee; one copy shall be furnished to the Department of Wildlife and Fisheries; one copy shall be recorded in the conveyance records of the parish or parishes wherein the land or water bodies lie; and one copy shall be retained in the records of the lessor.
Acts 1995, No. 88, §1, eff. June 12, 1995; Acts 2008, No. 315, §1.
