The board may not accept a bid on an oil and gas lease that offers:

1. (1) a royalty of less than one-eighth of the gross production of oil and gas; or
2. (2) a cash bonus of less than $10 an acre.

Added by Acts 1985, 69th Leg., ch. 624, Sec. 22, eff. Sept. 1, 1985.

Amended by Acts 1993, 73rd Leg., ch. 897, Sec. 11, eff. Sept. 1, 1993.