Nebraska Statutes 76-404. Oil and gas leases permitted
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Corporations incorporated under the laws of the United States of America, or under the laws of any state of the United States of America, or any foreign corporation or any alien, doing business in this state, may acquire, own, hold, or operate leases for oil, gas, or other hydrocarbon substances, for a period as long as ten years and as long thereafter as oil, gas, or other hydrocarbon substances shall or can be produced in commercial quantities.
Source
- Laws 1939, c. 97, § 1, p. 417;
- C.S.Supp.,1941, § 76-502;
- R.S.1943, § 76-404;
- Laws 1955, c. 286, § 1, p. 895;
- Laws 1982, LB 571, § 1.
Terms Used In Nebraska Statutes 76-404
- Acquire: when used in connection with a grant of power or property right to any person shall include the purchase, grant, gift, devise, bequest, and obtaining by eminent domain. See Nebraska Statutes 49-801
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Foreign: when applied to corporations shall include all those created by authority other than that of this state. See Nebraska Statutes 49-801
- 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
- United States: shall include territories, outlying possessions, and the District of Columbia. See Nebraska Statutes 49-801