If any lessee of public lands of this state having preference right to purchase fails or refuses to pay the highest bona fide bid, the lessee shall be entitled to be reimbursed for the improvements placed on the preference right lease by the lessee at a value fixed by the appraisers selected by the Commissioners of the Land Office to appraise the same and shall surrender possession of the lease immediately following the sale of the land and payment for improvements.
Added by Laws 1933, c. 192, p. 422, § 4. Amended by Laws 2010, c. 41, § 34, emerg. eff. April 2, 2010. Renumbered from § 224 of this title by Laws 2010, c. 41, § 103, emerg. eff. April 2, 2010.