The effective date of the transfer of the lessor's interest under leases transferred from the United States to Alaska is the effective date of patent, or the date on which the land subject to the leases is transferred from the United States to Alaska, whichever is applicable.

(Eff. 9/5/74, Register 51; am 7/22/79, Register 71)

Authority: AS 38.05.020, AS 38.05.145