Sec. 38.05.182. Royalty on natural resources.
130 words·~1 min read·
/ak/title-38/chapter-5/38-05-182·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 38.05.182. Royalty on natural resources.
(a)Any royalty provided for in AS 38.05.135 — 38.05.181 may be taken in kind rather than in money if the commissioner determines that the taking in kind would be in the best interest of the state. However, royalties on oil and gas shall be taken in kind unless the commissioner determines that the taking in money would be in the best interest of the state.
(b)The commissioner shall submit a determination to take royalty in money to the legislature at the first opportunity during a current session or, if the legislature is not in session, at the next regular session. The legislature, within 60 days or by the adjournment of the session, whichever comes sooner, may revoke the determination by concurrent resolution.