{"data":{"id":"us-ok/okla.-stat.-tit.-29-29-3-304","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 29, § 29-3-304","heading":"Lease of lands - Advertisement","body":"A. The Commission is hereby authorized to lease any lands owned\n\nby the State of Oklahoma under the control and management of said\n\nCommission under such terms and conditions as the Commission may\n\nprescribe and for the following purposes:\n\n1. For grazing or agricultural purposes when the same will not\n\nbe inconsistent with state or federal laws, rules or regulations;\n\n2. For oil, gas and other mineral rights for a term of five (5)\n\nyears or as long thereafter as oil and gas and other minerals may be\n\nproduced therefrom in paying quantities.\n\nB. The Commission shall advertise any lands which it proposes\n\nto lease on a competitive basis and may accept or reject all bids\n\nreceived.\n\nC. All oil, gas and mineral leases executed by the Commission\n\nshall provide for reservation to the state of a royalty of not less\n\nthan one-eighth (1/8) part of all oil, gas or minerals produced from\n\nthe leased premises or, in lieu thereof, the market value of a one-\n\neighth (1/8) part, and the payment of an annual delay rental a\n\nminimum of One Dollar ($1.00) per acre per year or such larger sum\n\nwhich shall be fixed by the Commission in advance of the\n\nadvertisement of such lands.\n\nD. Profits derived from all bonuses, rents and royalties shall\n\nbe deposited in the State Wildlife Conservation Fund.\n\nE. Nothing contained within this section shall affect the land\n\nor minerals and mineral rights under the jurisdiction and control of\n\nthe Commissioners of the Land Office of the State of Oklahoma, or\n\nany other department or agency of government.","path":["OK Code","Title 29"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os29.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"c439c11ab8acd96f294d0834861e59867ddb67484b0507cea8f6d30563bf0d69","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-29-29-3-303","next":"us-ok/okla.-stat.-tit.-29-29-3-305"},"notice":"GroundRules: Original legal text. Not legal advice."}