85-1-505. Lease conditions. (1) The lessee shall pay a royalty to the state as required in the lease.
(2) The department may authorize provisions in the lease that offer economic incentives for rapid development of the project or impose economic penalties for delays in development, which may include cancellation of the lease.
History: En. Sec. 5, Ch. 503, L. 1981; amd. Sec. 436, Ch. 418, L. 1995.