5-7-26. Leases assignable--Minimum tract assignable. All oil, gas, and geothermal resources leases shall be assignable in whole or in part, provided no assignment of less than a legal subdivision shall be recognized or approved by the commissioner of school and public lands. The term "legal subdivision" as used herein shall be construed in the ordinary sense as used and recognized in the Bureau of Land Management of the United States.
Source: SL 1931, ch 203, § 4; SDC 1939, § 15.0512.
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