(1) A natural asset company may not purchase or lease state public lands.

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Utah Code 63L-13-203

  • Conservation lease: includes a lease that is wholly or partially similar to a lease described in Subsection (1)(a). See Utah Code 63L-13-101
  • Ecosystem services: include the:
              (2)(b)(i) conversion of carbon dioxide to oxygen in plants through photosynthesis;
              (2)(b)(ii) purification of in-stream surface water or groundwater by naturally-occurring microorganisms, soil or bedrock percolation, or chemical detoxification; and
              (2)(b)(iii) noncommercial recreational benefit of natural lands. See Utah Code 63L-13-101
  • 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
  • Natural asset company: includes a company that is substantially similar to a company described in Subsection (6)(a). See Utah Code 63L-13-101
  • State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
(2) On public lands within the state, a natural asset company may not:

     (2)(a) own or manage a conservation lease; or
     (2)(b) purchase or lease ecosystem services.