Not later than two hundred seventy days after the effective date of this section, the oil and gas leasing commission shall adopt rules in accordance with Chapter 119. of the Revised Code establishing all of the following:
(A) The form of and the information to be included in nominations that are submitted under section 1509.73 of the Revised Code;
(B) Procedures for the submission of nominations to the commission and the amount of nomination fees to be charged. The rules shall require that if a person who has paid a nomination fee does not enter into a lease regarding the parcel of land that the person nominated, the fee shall be refunded to the person, and, if applicable, the person that enters into the lease shall pay the nomination fee. In addition, the rules shall provide that a state agency is exempt from nomination fees and that a person who enters into a lease regarding a parcel of land nominated by a state agency shall pay the nomination fee.
(C) Factors that the commission may consider when determining whether to approve or disapprove a nomination submitted under section 1509.73 of the Revised Code;
(D) Procedures and requirements for the submission of bids for a lease under section 1509.73 of the Revised Code;
(E) The amount of bid fees to be charged for the submission of bids to enter into leases under section 1509.73 of the Revised Code;
(F) A standard lease form that is consistent with the practices of the oil and natural gas industries and that contains at least a one-eighth landowner royalty, which standard lease form shall be used by a state agency for leases entered into under section 1509.73 of the Revised Code;
(G) Any other procedures and requirements that the commission determines necessary to implement sections 1509.70 to 1509.77 of the Revised Code.
Added by 129th General AssemblyFile No.35, HB 133, ยง1, eff. 9/30/2011.
Section: Previous 1509.41 1509.50 1509.60 1509.61 1509.70 1509.71 1509.72 1509.73 1509.74 1509.75 1509.76 1509.77 1509.78 1509.99 NextLast modified: October 10, 2016