30 U.S.C. § 224 — Payments for oil or gas taken prior to application for lease

submitted 106 years ago by ch. 85 to r/title-30-MINERAL-LANDS-AND-MINING · 62 words · no verdicts yet

in plain englishAI-generated · not legal advice

A permittee who has not yet applied for a lease on the one-quarter of the permit area set aside for that purpose must pay the United States 20 percent of the gross value of any oil or gas taken from the permit lands and sold, disposed of, or held for sale.

Until the permittee applies for a lease on the one-quarter of the permit area set aside for that purpose (as provided elsewhere in this law), the permittee must pay the United States 20 percent of the gross value of all oil or gas taken from the land covered by the permit - whether that oil or gas is sold, otherwise disposed of, or just held for future sale or disposal.

the actual law source: uscode.house.gov ↗public domain

Until the permittee shall apply for lease to the one quarter of the permit area heretofore provided for he shall pay to the United States 20 per centum of the gross value of all oil or gas secured by him from the lands embraced within his permit and sold or otherwise disposed of or held by him for sale or other disposition.

Source credit: (Feb. 25, 1920, ch. 85, § 15, 41 Stat. 442.)

history & why it existsrecord from the source credit

1920Enacted · Act of Feb. 25, 1920, ch. 85 · 41 Stat. 442

A history note hasn’t been published yet. The record shows enactment by ch. 85 on 1920-02-25.

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