Reservation of Rights in Lease or Conveyance of State Lands

NMSA 1978 ch. 19, art. 14

in effect

NMSA 1978, § 19-14-1 Commissioner of public lands to reserve certain rights to the state in leases or other conveyances of any mineral interests or rights to minerals in state lands

19-14-1. Commissioner of public lands to reserve certain rights to the state in leases or other conveyances of any mineral interests or rights to minerals in state lands In any lease or other conveyance of state lands granting any interest in or rights to minerals of whatsoever kind, including oil and gas, in those lands executed by the commissioner of public lands after the effective date of this section, the following reservation of rights to the state shall be made: "The state has a continuing option to purchase at any time and from time to time, at the market price prevailing in the area on the date of purchase, all or part of any minerals (specify the minerals) that may be produced from the lands covered by this lease (or other conveyance)." 1953 Comp., § 7-16-1, enacted by Laws 1973, ch. 26, § 1.

NMSA 1978, § 19-14-2 Waiver of requirements for reservation of rights in leases or conveyance for specific minerals; procedures for waiver

19-14-2. Waiver of requirements for reservation of rights in leases or conveyance for specific minerals; procedures for waiver A. The commissioner of public lands may waive by written order the reservation of rights required under Section 1 [19-14-1 NMSA 1978] of this act in respect to any specific mineral, other than fossil fuels, for which there is no significant consumptive use within the state, but such order may be made only: (1) after written notice is mailed by certified mail at least twenty days before the hearing required by Paragraph (3) of this subsection to the governor; (2) after notice of the hearing required by Paragraph (3) of this subsection is posted in the same manner as notice of public sale of mineral leases is required to be posted under Section 19-8-33 NMSA 1978; (3) after a public hearing on the issue of waiver under this subsection has been held by the commissioner of public lands or his designated representative in accordance with procedures adopted by the commissioner of public lands; and (4) if the commissioner of public lands finds after considering the evidence produced at the hearing that a waiver of the provision would be in the best interests of the trust beneficiaries considering long-range and short-range benefits. B. A waiver granted under Subsection A of this section shall be limited to a definite period of time not to exceed five years. Waivers may be renewed by the commissioner but only after following the procedure required under Subsection A of this section. 1953 Comp., § 7-16-2, enacted by Laws 1973, ch. 26, § 2.

NMSA 1978, § 19-14-3 Disposal of minerals by commissioner of public lands

19-14-3. Disposal of minerals by commissioner of public lands The commissioner of public lands shall dispose of any minerals reserved under this act [19-14-1 to 19-14-3 NMSA 1978] at the best price available in order to gain the maximum benefit for the trust beneficiaries. 1953 Comp., § 7-16-3, enacted by Laws 1973, ch. 26, § 3.

Source: New Mexico Compilation Commission (nmonesource.com)URL: https://nmonesource.com/nmos/nmsa-unanno/en/item/18519/index.doFetched: 10/20/2026