Texas Natural Resources Code 91.405 – Exemptions
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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.