New Mexico Statutes 19-10-66. Payment of royalties of the state in oil on demand
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All royalties accruing to the state under any oil or gas lease or permit under Sections 19-10-1 to 19-10-62 [repealed] NMSA 1978, shall be paid in royalty oil on demand of the commissioner of public lands.
Terms Used In New Mexico Statutes 19-10-66
- 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