There is a newer version of the South Dakota Codified Laws
2011 South Dakota Code
Title 5 PUBLIC PROPERTY, PURCHASES AND CONTRACTS
Chapter 07. Minerals on School and Public Lands
§5-7-42 Amount of royalty for leases of lands assigned oil and gas royalty increment status.
SD Codified L § 5-7-42 (through 2011) What's This?
5-7-42. Amount of royalty for leases of lands assigned oil and gas royalty increment status. Notwithstanding the provisions of § 5-7-24, the commissioner may offer oil and gas leases for lands assigned oil and gas royalty increment status with a royalty of one-sixteenth of the oil and gas produced, saved and marketed from the leased lands for the first three years of the lease. The royalty on the lease shall automatically increase to one-twelfth of the oil and gas produced, saved and marketed from the leased lands for the second three years of the lease. Thereafter, the royalty on the lease shall automatically increase to a minimum of one-eighth of the oil and gas produced, saved and marketed from the leased lands, as established by the commissioner. All other terms of the oil and gas lease for state minerals assigned royalty increment status shall be the same as the standard oil and gas lease for state minerals.
Source: SL 1992, ch 43, § 2.
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