In any lease or other conveyance of state lands granting any interest in or rights to minerals of whatsoever kind, including oil and gas, in those lands executed by the commissioner of public lands after the effective date of this section, the following reservation of rights to the state shall be made: "The state has a continuing option to purchase at any time and from time to time, at the market price prevailing in the area on the date of purchase, all or part of any minerals (specify the minerals) that may be produced from the lands covered by this lease (or other conveyance)."
History: 1953 Comp., § 7-16-1, enacted by Laws 1973, ch. 26, § 1.
Cross references. — For reservation of mineral rights on state lands leased for grazing or agricultural purposes, see 19-7-28 NMSA 1978.
For reservation of geothermal resources in leases, deed or sales contracts of state lands, see 19-13-16 NMSA 1978.
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