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2025 New Mexico Statutes
Chapter 19 - Public Lands
Article 8 - Lease of Mineral Lands
Section 19-8-21 - Rentals.

Universal Citation:
NM Stat § 19-8-21 (2025)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
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All leases issued by the commissioner shall provide for an annual rental to be paid by the lessee in advance, the amount thereof to be fixed by the commissioner, but in no case shall the same be less than five cents (5 ) per acre for the primary term nor less than fifty cents (50 ) per acre for the secondary term; provided that the annual rental for any one lease shall not be less than ten dollars ($10.00).

History: 1953 Comp., § 7-9-22, enacted by Laws 1955, ch. 53, § 6.

ANNOTATIONS

Cross references. — For interest on delinquent payments of rental, see 19-1-3 NMSA 1978.

Law reviews. — For comment, "Taxation of the Uranium Industry: An Economic Proposal," see 7 N.M. L. Rev. 69 (1976-77).

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