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Current as of January 01, 2024 | Updated by Findlaw Staff
All advance royalty provisions contained in coal leases executed after April 9, 1975, must be specially explained to the lessor before the lessor executes the lease. The lessor shall execute an acknowledgment indicating the lessor's knowledge of the presence of the advance royalty provision or the advance royalty provision is void. The acknowledgment must be printed on the lease document in print which is larger than any other print on the document, and it must refer the lessor to the exact provision of the lease which permits advance royalty.
An example of the type of acknowledgment required by this section is as follows: THE LESSOR HEREBY ACKNOWLEDGES THAT THE LESSOR IS AWARE OF SECTION __________ OF THIS LEASE RELATING TO ADVANCE ROYALTIES.
Cite this article: FindLaw.com - North Dakota Century Code Title 38. Mining and Gas and Oil Production § 38-17-06. Acknowledgment of advance royalty provision required - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-38-mining-and-gas-and-oil-production/nd-cent-code-sect-38-17-06/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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