Alaska § 38.05.715 - Conversion to lease by licensee.
Full text of Alaska Alaska Statutes § 38.05.715 — Conversion to lease by licensee., with citation guidance and answers to common questions.
§ 38.05.715. Conversion to lease by licensee.
(a) The commissioner may convert a carbon storage exploration license to a carbon storage lease if the licensee complies with (b) of this section.
(b) To convert a carbon storage exploration license to a carbon storage lease, a licensee shall provide to the commissioner a copy of the permit obtained under AS 41.06.120 . After receiving a copy of the permit, the commissioner may issue a carbon storage lease for those areas of the exploration license approved for carbon storage by the permit if the licensee has (1) fulfilled the work commitments set out in the license;
(2) demonstrated the ability to meet the commercial terms for the lease as set out in the license.
(c) Notwithstanding (b) of this section, if the commissioner determines that a carbon storage project is in the best interests of the state and would not be economically feasible under the commercial terms set by the license, the commissioner may issue the carbon storage lease under alternative commercial terms. A lease issued under this subsection must be supported by a written finding that contains specific factual details justifying the decision, an explanation of the commissioner's reasons for issuing the lease, and a description of the original terms and the alternative terms of the lease. The finding must be published on the commissioner's publicly available Internet website.
(d) A lease issued under this section must include (1) commercial terms for the lease;
(2) the agreements required under AS 38.05.710 (h); and
(3) any other condition or obligation the commissioner considers necessary or that is required by regulation.
Source: official Alaska text · Last verified 2026-08-27
Frequently Asked Questions About Alaska § 38.05.715
What does Alaska Statutes § 38.05.715 cover?
Section 38.05.715 ("Conversion to lease by licensee.") is part of the Alaska Statutes, the codified statutory law of Alaska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alaska § 38.05.715?
A common citation format is "Alaska Statutes § 38.05.715" (Alaska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alaska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alaska official source linked on this page or consult a licensed Alaska attorney.
How does Alaska § 38.05.715 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alaska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alaska.