Texas Education Code

§ 66.82 — FORFEITURE; OTHER REMEDIES

ED § 66.82Title 3. HIGHER EDUCATION · Part C. THE UNIVERSITY OF TEXAS SYSTEM · Ch. 66. PERMANENT UNIVERSITY FUND · Art. D. BOARD FOR LEASE OF UNIVERSITY LANDS

Statute text

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(a)If a lessee fails or refuses to perform a material requirement of this subchapter or the lease, the board may, after notice to the lessee and an opportunity to be heard, declare a forfeiture of the lease or an interest in the lease. Material requirements include but are not limited to:

(1)failure or refusal to pay a sum due, including penalty and interest, within 30 days after the sum becomes due;

(2)failure or refusal to tender oil or gas for delivery as in-kind royalty;

(3)making a false report concerning exploration, production, or royalty;

(4)failure or refusal to file an assignment as required by this subchapter;

(5)failure or refusal, after demand, to file or make available for inspection and copying a record or document required to be filed or made available for inspection or copying under this subchapter or rules promulgated thereunder;

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Legislative history

Amended by Acts 1997, 75th Leg., ch. 1324, Sec. 1, eff. Jan. 1, 1998.