1. Regulations
  2. title 43
  3. chapter II
  4. part 3100
  5. subpart 3109
  6. § 3109.1-5

View all text of Subpart 3109 [§ 3109.1 - § 3109.3]

§ 3109.1-5 - Compensatory royalty agreement or lease.

(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 Management in accordance with the provisions of § 3103.3 of this title, but shall not be less than 12 1/2 percent.

(c) The term of the lease shall be for a period of not more than 20 years.

AUTHORITY: 25 U.S.C. 396d and 2107; 30 U.S.C. 189, 306, 359 and 1751; 43 U.S.C. 1732(b), 1733, and 1740; and the Energy Policy Act of 2005 (Pub. L. 109-58).

SOURCE: 48 FR 33662, July 22, 1983, unless otherwise noted.

CITE AS: 43 CFR 3109.1-5