§ 19-8-9

N.M. Stat. Ann. § 19-8-9

[Suspension of production; authorization by commissioner of public lands; extension of primary term of lease; secondary term of lease not determined by.]

1953 Comp., § 7-9-12.2, enacted by Laws 1959, ch. 178, § 2.State of New Mexico

Provided the lessee complies with all other terms and conditions of the lease, a suspension of production authorized by the commissioner of public lands shall:

  1. A. if it occurs during the fixed or primary term of such lease, extend the term of such lease for a period of time equal to the period of such suspension; or
  2. B. if it occurs during the indeterminable or secondary term of such lease, prevent the lease from determining in accordance with the limitation of such lease.

History: 1953 Comp., § 7-9-12.2, enacted by Laws 1959, ch. 178, § 2.

ANNOTATIONS

Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.

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