U.S. Code of Federal Regulations
Regulations most recently checked for updates: Dec 11, 2019
(a) The lease or compensatory royalty agreement shall be on a form approved by the Director.
(b) The royalty to be charged shall be fixed by the Bureau of Land Mangement in accordance with the provisions of § 3103.3 of this title, but shall not be less than 12
(c) The term of the lease shall be for a period of not more than 20 years.