 |
Texas Statutes (Last Updated: January 4, 2014) |
 |
EDUCATION CODE |
|
Title 3. HIGHER EDUCATION |
|
Subtitle F. OTHER COLLEGES AND UNIVERSITIES |
|
Chapter 109. TEXAS TECH UNIVERSITY SYSTEM |
|
Subchapter D. MINERAL DEVELOPMENT IN UNIVERSITY LAND |
Sec. 109.74. TITLE TO RIGHTS PURCHASED; ASSIGNMENT; RELINQUISHMENT
-
(a) Title to all rights purchased may be held by the owners as long as the area produces oil, gas, sulphur, or other minerals in paying quantities.
(b) All rights purchased may be assigned. All assignments shall be filed in the general land office as prescribed by rule, accompanied by 10 cents per acre for each acre assigned and the filing fee as prescribed by rule. An assignment shall not be effective unless filed as required by rule.
(c) All rights to all or any part of a leased tract may be released to the state at any time by recording a release instrument in the county or counties in which the tract is located. Releases shall also be filed with the chairman of the board and the general land office, accompanied by the filing fee prescribed by rule. A release shall not relieve the owner of any obligations or liabilities incurred prior to the release.
(d) The board shall authorize the laying of pipeline and telephone line and the opening of roads deemed reasonably necessary in carrying out the purposes of this subchapter.