Upon the discovery of potash or other minerals or substances in commercial quantities, the lessee shall report the same to the Board of Educational Lands and Funds within thirty days, together with a statement showing how soon facilities necessary for production and marketing may be completed. If the board deems there is an unnecessary delay between the time of discovery and the time of production, a showing may be required as to the cause of the delay and, if it be found to be out of proportion to a reasonable length of time, the board may demand more rapid development or the surrender or cancellation of the lease.

Source

  • Laws 1918, Thirty-sixth Spec. Sess., c. 7, § 6, p. 45;
  • C.S.1922, § 5224;
  • C.S.1929, § 72-306;
  • Laws 1943, c. 164, § 16, p. 584;
  • R.S.1943, § 72-306.

Terms Used In Nebraska Statutes 72-306

  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • 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