§1170. Written notice; requirement and effect on claims for damages or dissolution of lease

            If a renewable energy lessor seeks relief from his lessee for any claim that the lessee has failed to develop and operate the property leased as a prudent operator, the lessor shall give his lessee written notice of the asserted breach of performance and allow a reasonable time for performance by the lessee as a prerequisite to a judicial demand for damages or dissolution of the lease. If a lessee is found to have had actual or constructive knowledge of its failure to perform as a prudent operator and is held responsible for consequent damages, the damages may be computed from the time a reasonably prudent operator would have remedied the failure to perform. In other cases where notice is required by this Part, damages may be computed only from the time the written notice was received by the lessee. The parties may stipulate what constitutes a reasonable time for performance under this Section.

            Acts 2023, No. 455, §1, eff. June 28, 2023.