North Dakota Code 38-11-04 – Offering of mineral leases to be public
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Prior to the execution of a mineral lease by any agency of the state of North Dakota, that agency owning or controlling the mineral interest shall first give notice in accordance with the rules of the board of university and school lands. The notice must contain the information required by the rules of the board of university and school lands and such other information as may be deemed by the leasing agency to be applicable. The leasing must be by public auction held at the time and place specified in the notice.
Terms Used In North Dakota Code 38-11-04
- 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 the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49