Sec. 9. (a) The department shall determine the initial term of a permit, not to exceed ten (10) years. The department shall automatically continue a permit:

(1) if commercial production and accompanying royalty payments are established by the end of the initial term; and

(2) as long as production continues, not to exceed fifty (50) years.

     (b) If commercial production is not established within the initial term of a permit, the department may terminate the permit.

     (c) The department may terminate a permit at any time for failure of the permittee to comply with:

(1) this chapter; or

(2) the rules adopted under this chapter.

[Pre-1995 Recodification Citation: 14-3-2-6 part.]

As added by P.L.1-1995, SEC.28.