The royalty proceeds derived from the sale of oil or gas production under any oil and gas lease granted by the Commissioners of the Land Office shall be paid to the Commissioners pursuant to the terms of the Production Revenue Standards Act.
Added by Laws 1987, c. 204, § 39, operative July 1, 1987. Amended by Laws 1992, c. 190, § 16, eff. July 1, 1993; Laws 2010, c. 41, § 48, emerg. eff. April 2, 2010. Renumbered from § 293 of this title by Laws 2010, c. 41, § 125, emerg. eff. April 2, 2010.