109.158 – ACCEPTANCE AND FILING OF BIDS; TERMINATION OF
Texas Education Code § 109.158
Summary
This law outlines the process for accepting bids for mineral leases and the conditions under which these leases can be terminated. It affects boards managing mineral lands and potential bidders for oil, gas, and other minerals.
Boards must accept the best bid and file it with the general land office.
Leases terminate if no production occurs within five years.
Extensions are possible under specific conditions outlined in related sections.
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In simple terms: Learn about Texas's ACCEPTANCE AND FILING OF BIDS; TERMINATION OF law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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