KRS 353.020: Oil and gas lease or contract, when lessor may avoid.

If a lease or contract of lands for oil and gas purposes provides in substance that actual

drilling or development may be postponed by the payment or tender of the rental on or

before a certain day, and the rental is not so paid or tendered, the lessor or landowner may

avoid the lease or contract unless before executing a new lease or contract he has

accepted payment of the rental.