No such lease shall provide for a royalty of less than twelve and one-half per cent of production of oil and gas from the lease.
HISTORY: 1962 Code Section 1-362; 1952 Code Section 1-362; 1944 (43) 1428; 2014 Act No. 121 (S.22), Pt V, Section 7.M, eff July 1, 2015.
Effect of Amendment
2014 Act No. 121, Section 7.M, reenacted the section with no apparent change.