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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
Regular Session, 2012
SENATE BILL NO. 530
BY SENATOR PEACOCK
MINERALS. Provides relative to certain unsolicited offers for lease or purchase of mineral
rights. (8/1/12)
AN ACT1
To enact Part 6 of Chapter 13 of Title 31 of the Louisiana Revised Statutes of 1950,2
comprised of R.S. 31:216, relative to mineral rights and interests; to provide relative3
to certain unsolicited offers for lease or purchase of mineral rights or interests; to4
provide certain terms, conditions, requirements, and effects of such unsolicited5
offers; and to provide for related matters.6
Be it enacted by the Legislature of Louisiana:7
Section 1. Part 6 of Chapter 13 of Title 31 of the Louisiana Revised Statutes of 1950,8
comprised of R.S. 31:216, is hereby enacted to read as follows: 9
PART VI. UNSOLICITED OFFERS FOR LEASE OR10
PURCHASE OF MINERAL RIGHTS11
ยง216. Unsolicited offers for lease or purchase of mineral rights; requirements;12
limitations; effects; nullity13
A. An unsolicited offer, by mail or electronic communication, for lease14
or purchase of a mineral right or interest shall include and accurately disclose15
the following information prominently displayed in boldfaced lettering of equal16
or greater size:17 SB NO. 530
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words in boldface type and underscored are additions.
(1) Whether the offer is for a lease of a mineral right or interest, or for1
a purchase of a mineral right or interest, or both.2
(2) A description of the specific mineral right or interest for which the3
offer is made.4
(3) The total monetary amount or other compensation offered for the5
lease or purchase.6
(4) If a lease, the term of the lease.7
(5) That at least thirty days must lapse between the date the offer is8
received and the date of confection of the act of lease or purchase.9
B. An unsolicited offer by mail for the lease or purchase of a mineral10
right or interest shall not include advance payment, in whole or part, for the11
lease or purchase. If such payment is included, it shall be deemed an12
unconditional gift or donation to the recipient, who may accept and use such13
funds without liability or any obligation to the sender. The recipient may use14
the funds for any purpose, including legal or other consultation concerning the15
unsolicited offer.16
C. The failure of an unsolicited offer to conform to the requirements of17
this Section shall render any act resulting from the offer a nullity. The sender18
shall pay any legal costs associated with any act of lease or purchase arising19
from an unsolicited offer that is subject to the provisions of this Section.20
D. The provisions of this Section shall supersede and control to the21
extent of any conflict with any other provision of law.22
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by McHenry Lee.
DIGEST
Proposed law provides relative to unsolicited offers for lease or purchase of mineral rights
or interests.
Proposed law provides that an unsolicited offer, by mail or electronic communication, for
lease or purchase of a mineral right or interest shall include and accurately disclose the
following information prominently displayed in boldfaced lettering of equal or greater size:
1. Whether the offer is for a lease of a mineral right or interest, or for a purchase of a SB NO. 530
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
mineral right or interest, or both.
2. A description of the specific mineral right or interest for which the offer is made.
3. The total monetary amount or other compensation offered for the lease or purchase.
4. If a lease, the term of the lease.
5. That at least 30 days must lapse between the date the offer is received and the date
of confection of the act of lease or purchase.
Proposed law provides that an unsolicited offer by mail for the lease or purchase of a mineral
right or interest shall not include advance payment, in whole or part, for the lease or
purchase. If such payment is included, it shall be deemed an unconditional gift or donation
to the recipient, who may accept and use such funds without liability or any obligation to the
sender. Also provides that the recipient may use the funds for any purpose, including legal
or other consultation concerning the unsolicited offer.
Proposed law provides that the failure of an unsolicited offer to conform to these
requirements shall render any act resulting from the offer a nullity. The sender shall pay any
legal costs associated with any act of lease or purchase arising from an unsolicited offer.
Proposed law further provides that its provisions shall supersede and control to the extent
of any conflict with any other provision of law.
Effective August 1, 2012.
(Adds R.S. 31:216)