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 19.2.2.78 - INTEREST ON LATE PAYMENTS
Universal Citation: 19 NM Admin Code 19.2.2.78
Current through Register Vol. 35, No. 18, September 24, 2024
Lessee shall pay interest at the rate of one percent per month on any late payment of rents, royalties or other payments required under the mineral lease. If the lessee fails to pay the entire amount owed, then interest shall accrue on the unpaid portion. Interest shall begin to accrue on the day the payment becomes due and continue to accrue daily until payment is made.
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