New Mexico § 19-10-5 - Existing leases; stipulation
Full text of New Mexico New Mexico Statutes Annotated § 19-10-5 — Existing leases; stipulation, with citation guidance and answers to common questions.
§ 19-10-5. Existing leases; stipulation
A. The owners of any oil and gas lease issued by the commissioner of public lands
before the effective date of this section, other than a five year lease, and maintained
in good standing according to the terms and conditions thereof and all applicable
statutes and regulations, may, in accordance with regulations prescribed by the commissioner,
enter into a stipulation making the terms and conditions of the lease form prescribed
by Section 19-10-4.1 NMSA 1978 , a part of any such existing lease, the same as if the lease form had been the original;
provided, however, that no such stipulation shall be effective or binding on any of
the parties until each and every working interest owner and record owner of the original
lease or approved assignment thereof has signed the stipulation. B. The owners of any five year oil and gas lease issued by the commissioner of public
lands before the effective date of this section and maintained in good standing according
to the terms and conditions thereof and all applicable statutes and regulations, may,
in accordance with regulations prescribed by the commissioner, enter into a stipulation
making the terms and conditions of the lease form prescribed by Section 19-10-4.2 NMSA 1978 a part of any such existing lease, the same as if the lease form had been the original;
provided, however, that no such stipulation shall be effective or binding on any of
the parties until each and every working interest owner and record owner of the original
lease or approved assignment has signed the stipulation.
Frequently Asked Questions About New Mexico § 19-10-5
What does New Mexico Statutes Annotated § 19-10-5 cover?
Section 19-10-5 ("Existing leases; stipulation") is part of the New Mexico Statutes Annotated, the codified statutory law of New Mexico. 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 New Mexico § 19-10-5?
A common citation format is "New Mexico Statutes Annotated § 19-10-5" (New Mexico). 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 New Mexico law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Mexico official source linked on this page or consult a licensed New Mexico attorney.
How does New Mexico § 19-10-5 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Mexico 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 New Mexico.