Indiana Code 14-38-1-25. Withholding land for prospecting or lease
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Terms Used In Indiana Code 14-38-1-25
- Judgment: means all final orders, decrees, and determinations in an action and all orders upon which executions may issue. See Indiana Code 1-1-4-5
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- petroleum: means any liquid or gaseous hydrocarbon occurring in nature beneath the surface of the earth. See Indiana Code 14-38-1-3
Sec. 25. This chapter does not require the commission to offer a tract of land for prospecting or lease. The commission may withhold a tract from prospecting or leasing for petroleum purposes if in the commission’s judgment the best interest of the state will be served by so doing.
[Pre-1995 Recodification Citation: 14-4-3-21.]
As added by P.L.1-1995, SEC.31.