Indiana Code 14-38-1-6. Permit issuance
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Sec. 6. (a) The commission may enter into written contracts designating a person as the permittee of the state with the exclusive right to prospect and explore not to exceed three (3) sections, or an equivalent area, of the public land for the occurrence of petroleum. A contract must contain the conditions prescribed by the rules adopted by the commission under this chapter. A permit must be for a period of not more than one (1) year in the discretion of the commission. A permit shall be granted without cost, except:
(2) that, if more than one (1) application for a permit is received with respect to the same public land, the commission shall grant the permit to the person offering the highest cash bonus.
(1) as provided in section 16 of this chapter; and
Terms Used In Indiana Code 14-38-1-6
- Contract: A legal written agreement that becomes binding when signed.
- person: means the following:
Indiana Code 14-38-1-2
- petroleum: means any liquid or gaseous hydrocarbon occurring in nature beneath the surface of the earth. See Indiana Code 14-38-1-3
- public land: means land and area belonging to or subsequently acquired by the state or any of the state's institutions. See Indiana Code 14-38-1-5
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(b) A permittee may, under a contract:
(1) enter in and upon the land; and
(2) prospect and explore the land to determine the occurrence of petroleum.
[Pre-1995 Recodification Citation: 14-4-3-2.]
As added by P.L.1-1995, SEC.31.