DecisionDepot
California legal research

Texas Natural Resources Code

§ 53.026 — IN KIND ROYALTY

NR § 53.026Title 2. PUBLIC DOMAIN · Part D. DISPOSITION OF THE PUBLIC DOMAIN · Ch. 53. MINERALS · Art. B. PROSPECT AND LEASE ON STATE LAND

Statute text

View on source
(a)The commissioner or the commissioner acting on behalf of and at the direction of the board or a board for lease may negotiate and execute a contract or any other instrument or agreement necessary to dispose of or enhance their portion of the royalty taken in kind, including contracts for sale, purchase, transportation, or storage.
(b)The commissioner or the commissioner acting on behalf of and at the direction of the board or a board for lease may negotiate and execute a contract or any other instrument or agreement necessary to convert that portion of the royalty taken in kind to other forms of energy, other than electricity.
(c)This section shall not be construed to surrender or in any way affect the right of the state under an existing or future lease to receive monetary royalty from its lessee. Added by Acts 1993, 73rd Leg., ch. 897, Sec. 52, eff. Sept. 1, 1993. Amended by Acts 1999, 76th Leg., ch. 405, Sec. 50, eff. Sept. 1, 1999. Amended by:

Legislative history

Acts 2019, 86th Leg., R.S., Ch. 53 (H.B. 2263), Sec. 2, eff. May 17, 2019.

Source: Texas Natural Resources Code § 53.026 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.