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 19.2.2.61 - EFFECT OF ASSIGNMENT

Universal Citation: 19 NM Admin Code 19.2.2.61
Current through Register Vol. 35, No. 18, September 24, 2024

Upon approval by the commissioner of a valid mineral lease assignment, the assignor shall stand relieved from all lease obligations to the commissioner with respect to the state trust resources embraced in the assignment. The state shall likewise be relieved from all obligations to the assignor as to such resources. Upon assignment, the assignee shall succeed to all of the rights and privileges of the assignor with respect to the assigned lease and shall, upon assignment, be liable for all obligations of the assignor as to the commissioner. Nothing in this section shall relieve any person from liability under the New Mexico Mining Act, comparable law, or any permit or authorization issued thereunder.

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