New Mexico Administrative Code
Title 19 - NATURAL RESOURCES AND WILDLIFE
Chapter 2 - STATE TRUST LANDS PART 24 CULTURAL PROPERTIES PROTECTION
Part 2 - LEASING FOR GENERAL MINING
Section 19.2.2.49 - CREDIT FOR ADVANCE ROYALTIES
Universal Citation: 19 NM Admin Code 19.2.2.49
Current through Register Vol. 35, No. 18, September 24, 2024
Upon the commencement of production of minerals in paying quantities, the principal sum paid as an advance royalty for the year in which such production commences, and the principal sums so paid for the two previous years, shall be credited against the royalty otherwise payable to the commissioner.
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