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Terms Used In Utah Code 65A-17-103

  • 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
  • Mineral or element: means :
         (10)(a) a rare earth element;
         (10)(b) a trace element or mineral;
         (10)(c) a chemical compound that includes a rare earth element or trace element or mineral; or
         (10)(d) a mineral or element that is attached, embedded to, or is a by-product of another mineral or element. See Utah Code 65A-17-101
  • Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5

     This chapter applies to a mineral lease or royalty agreement in effect on May 1, 2024, or the mineral or element extraction process engaged in on May 1, 2024, and any mineral lease or royalty agreement entered into after May 1, 2024, or mineral or element extraction process engaged in after May 1, 2024.