If the commissioner approves or disapproves an application for transfer, the commissioner will mail notice of the action to the applicant and the lessee, licensee of a state-issued oil and gas exploration license, or permittee. If the commissioner approves the transfer, the effective date of the transfer is the first day of the month following the date on which the assignment application is filed with the state. Upon prior written request, the effective date of the transfer is the first day of the month in which the assignment application is filed with the state. If an assignment application is approved prior to issuance of the lease, oil and gas exploration license, or permit, the effective date of the transfer is the effective date of the lease, license, or permit.

(Eff. 9/5/74, Register 51; am 7/22/79, Register 71; am 9/22/95, Register 135; am 2/21/98, Register 145)

Authority: AS 38.05.020, AS 38.05.132, AS 38.05.920, AS 38.05.131, AS 38.05.133