Nevada § 322.030 - Rentals and royalties
Full text of Nevada Nevada Revised Statutes § 322.030 — Rentals and royalties, with citation guidance and answers to common questions.
§ 322.030. Rentals and royalties
1. Such leases shall be based upon a fixed rental of not less than $1 per acre annually
for each acre contained therein, and shall further provide for a royalty of not less
than: (a) Fifteen percent of the gross value of all oil, gas or other hydrocarbons extracted
therefrom. (b) Ten percent of the gross value of any geothermal resource derived from the lease
and sold or utilized or reasonably susceptible to sale or utilization by the lessee
and 5 percent of the gross value of any by-product sold or utilized or reasonably
susceptible to sale or utilization by the lessee. 2. Each lease shall be negotiated upon such terms and for such rent and royalty as
are most favorable to the State and not less favorable than similar leaseholds in
the vicinity. 3. As used in this section, “by-product” means a tangible substance produced or extracted
in the utilization of a geothermal resource.
Frequently Asked Questions About Nevada § 322.030
What does Nevada Revised Statutes § 322.030 cover?
Section 322.030 ("Rentals and royalties") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. 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 Nevada § 322.030?
A common citation format is "Nevada Revised Statutes § 322.030" (Nevada). 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 Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 322.030 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada 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 Nevada.