§ 77-4-303

77-4-303. Lease provisions. (1) A lessee under this part has exclusive rights of possession of the lands or interest leased, subject to conditions in the lease and compliance with the lease. (2) The state reserves the right in leases under this part to sell, lease, or otherwise dispose of the surface, and the right to lease or exchange the subsurface, of the lands covered by the lease subject to the rights and privileges granted the lessee under the terms of the lease. (3) A lease must specify the rental to be paid, duration, reasonable forfeiture provisions, bonding, and decommissioning terms. (4) A lease may contain other provisions that the board and the lessee agree upon that are consistent with this part. History: En. Sec. 4, Ch. 313, L. 2021.