Texas Natural Resources Code 32.155 – Rental and Royalty Payments
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(a) Each lessee or his assigns shall pay annual rentals and royalties as specified by the board.
(b) Subchapter D, Chapter 52 of this code applies to a lease issued under this chapter.
Terms Used In Texas Natural Resources Code 32.155
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC