Ask a business law question, get an answer ASAP!
Thousands of highly rated, verified business lawyers.
Click here to chat with a lawyer about your rights.

Terms Used In Texas Natural Resources Code 91.405

  • 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

This subchapter does not apply to any royalties that are payable to:
(1) the board of regents of The University of Texas System under a lease of land dedicated to the permanent university fund; or
(2) the General Land Office as provided by Subchapter D, Chapter 52, of this code.