South Dakota Codified Laws 45-7-2. Discharge and cancellation by endorsement on original lease–Entry on margin of record
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Any oil and gas or mining lease that has been or may hereafter be recorded in the office of the register of deeds of any county may be discharged and canceled by an endorsement made on the original lease signed by the lease owner or his duly authorized attorney in fact or personal representative, or if a corporation, by its duly authorized officers, surrendering his right, title, and interest in and to said lease, which endorsement shall be entered on the margin of the record thereof at such time as the lease containing the endorsement is submitted to the register of deeds or his deputy.
Terms Used In South Dakota Codified Laws 45-7-2
- 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.
- 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
Source: SL 1941, ch 180, § 3; SDC Supp 1960, § 42.0814.