New Mexico Statutes 19-10-19. [Withholding lands from lease authorized.]
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Nothing contained in this act [19-10-1, 19-10-12 to 19-10-25 N.M. Stat. Ann.] shall be construed as requiring the commissioner to offer any tract or tracts of land for lease but the commissioner shall have power to withhold any tract or tracts from leasing for oil and gas purposes if in his opinion the best interests of the state will be served by so doing.
Terms Used In New Mexico Statutes 19-10-19
- 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