Texas Natural Resources Code 32.206 – Ratifications and Other Agreements
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(a) The board may approve by rule or order a ratification or other agreement that includes in the benefits of production a mineral or royalty interest in land owned by the state that was acquired to construct or maintain a highway, road, street, or alley.
(b) An agreement approved by the board under this section must be executed by the commissioner to be effective.
Terms Used In Texas Natural Resources Code 32.206
- 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
- Rule: includes regulation. See Texas Government Code 311.005
(c) This section does not apply to an interest subject to pooling or unitization by a lessee under a lease issued under this subchapter.