1. (a) As used in 11 AAC 86.760 - 11 AAC 86.796, a "holder" or a "holder of a mining claim, leasehold location, or mining lease" is a person engaged in one or more of the following activities in the state, and includes a person who is temporarily exempt from taxation under AS 43.65.010(a):

   1. (1) owning and operating a mining property;
   2. (2) owning a mining property and receiving lease or royalty payments based on production from the property;
   3. (3) leasing a mining property from another person and operating the property;
   4. (4) possessing a mineral interest, whether an economic or a production interest, in a producing property, including royalty, working or operating interests, net profits, overriding royalties, carried interests, and production payments.
2. (b) There may be more than one holder of a mining claim, leasehold location, or mining lease. For example, if the owner of a mining claim leases the mining claim to another person, both the owner and lessee are holders under this section.

(Eff. 7/26/91, Register 119)

Authority: AS 38.05.212