Nebraska Statutes 72-901. School lands; oil and gas leases; Board of Educational Lands and Funds; powers and duties
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The Board of Educational Lands and Funds is authorized and empowered to lease any school and public lands belonging to the state and under its control, including oil and gas rights which have been or may hereafter be reserved to the state, for oil and gas exploration and development upon terms and conditions herein prescribed. In all cases where the lands are under lease for grazing, agricultural or similar purposes, the rights of such lessees shall be protected.
Source
- Laws 1943, c. 164, § 1, p. 579;
- R.S.1943, § 72-901.
Terms Used In Nebraska Statutes 72-901
- 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
- State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801