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Indiana Code Title 14. Natural and Cultural Resources § 14-35-1-5

Current as of January 02, 2024 | Updated by FindLaw Staff

Sec. 5. (a) A proposal or bid made in response to a request under section 4 of this chapter must offer the following:

(1) A royalty on a percentage basis, based on the commodity value at the mine, pit, or quarry.

(2) A bonus, or fixed fee per acre, in addition to royalty.

(b) A royalty may not be less than that generally prevailing for the resource to be extracted under similar methods of mining.

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Cite this article: FindLaw.com - Indiana Code Title 14. Natural and Cultural Resources § 14-35-1-5 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-14-natural-and-cultural-resources/in-code-sect-14-35-1-5/

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