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30 U.S.C. § 188a — Surrender of leases

submitted 83 years ago by ch. 329 to r/title-30-MINERAL-LANDS-AND-MINING · 155 words · no verdicts yet

in plain englishAI-generated · not legal advice

The Secretary of the Interior may let a lessee give up an oil or gas lease early. This applies when the surrender is filed after rent is due but before it's paid. The lessee must still pay rent for the part of the year already used.

This section lets a lessee surrender — give back — an oil or gas lease before the year's rent is fully paid. It applies when the surrender is filed with the Bureau of Land Management after that year's rent has become due, but before the lessee has paid it. The lessee must still pay rent for the part of the year that passed before filing the surrender, figured out month by month (pro rata). The Secretary of the Interior can only use this power if the Secretary finds that the lessee's failure to file the surrender on time, before rent came due, was not caused by the lessee's own lack of reasonable care. This power does not extend to any lease dispute or claim that has already been sent to the Department of Justice for a lawsuit.
the actual law source: uscode.house.gov ↗public domain

The Secretary of the Interior is authorized to accept the surrender of any lease issued pursuant to any of the provisions of this chapter, or any amendment thereof, where the surrender is filed in the Bureau of Land Management subsequent to the accrual but prior to the payment of the yearly rental due under the lease, upon payment of the accrued rental on a pro rata monthly basis for the portion of the lease year prior to the filing of the surrender. The authority granted to the Secretary of the Interior by this section shall extend only to cases in which he finds that the failure of the lessee to file a timely surrender of the lease prior to the accrual of the rental was not due to a lack of reasonable diligence, but it shall not extend to claims or cases which have been referred to the Department of Justice for purposes of suit.

Source credit: (Nov. 28, 1943, ch. 329, 57 Stat. 593; 1946 Reorg. Plan No. 3, § 403, eff. July 16, 1946, 11 F.R. 7876, 60 Stat. 1100.)

history & why it existsrecord from the source credit
  • 1943Enacted · Act of Nov. 28, 1943, ch. 329 · 57 Stat. 593

A history note hasn’t been published yet. The record shows enactment by ch. 329 on 1943-11-28.

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