CHAPTER 5. THE MINERAL ROYALTY
PART 1. THE NATURE OF THE MINERAL ROYALTY
§80. Nature of mineral royalty
A mineral royalty is the right to participate in production of minerals from land owned by another or land subject to a mineral servitude owned by another. Unless expressly qualified by the parties, a royalty is a right to share in gross production free of mining or drilling and production costs.
Acts 1974, No. 50, §80, eff. Jan. 1, 1975.