Alaska Administrative Code
Title 11 - Natural Resources
Part 6 - Lands
Chapter 82 - Mineral Leasing Procedure
Article 3 - Acreage Limitations
11 AAC 82.310 - Reduction of holdings

If a person holds or controls acreage in excess of the prescribed limitations, the commissioner will give notice of the excess acreage to the person. The person shall, within 90 days following receipt of the notice, by assignment or surrender, reduce the acreage held or controlled to the prescribed limitation and file proof of the reduction with the commissioner. If a person fails to reduce the acreage within the allowed time, the last interest or interests acquired by the person that created the excess acreage holding become in default and subject to forfeiture in their entirety, even though only part of the acreage in the lease, oil and gas exploration license, or interest constitutes excess holding.

Authority:AS 38.05.020

AS 38.05.131

AS 38.05.132

AS 38.05.140

AS 38.05.145