South Dakota Codified Laws 55-1A-17. Mineral and natural resource leases and explorations
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A trustee may enter into a lease or arrangement for the exploration for and removal of oil, gas and other minerals or other natural resources, and he may enter into pooling and unitization agreements.
Terms Used In South Dakota Codified Laws 55-1A-17
- 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
- Trustee: A person or institution holding and administering property in trust.
Source: SL 1979, ch 336, § 17.