South Carolina Code 10-9-20. Minimum royalty
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Terms Used In South Carolina Code 10-9-20
- 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
No such lease shall provide for a royalty of less than twelve and one-half per cent of production of oil and gas from the lease.