Louisiana 2014 2014 Regular Session

Louisiana Senate Bill SB570 Comm Sub / Analysis

                    The original instrument and the following digest, which constitutes no part of the
legislative instrument, were prepared by McHenry Lee.
DIGEST
Long (SB 570)
Present law provides that mineral rights are subject to a prescription of nonuse for 10 years.
Proposed law provides when land is acquired from any person by an acquiring authority through
an act of sale, exchange, donation, or other contact as part of an economic development project
pursuant to a certain cooperative endeavor agreement, as evidenced in a certification by the
secretary of DED and a mineral right otherwise subject to the prescription of nonuse is reserved,
the prescription of nonuse will not run against the right, whether the title to the land remains in
the acquiring authority or is subsequently transferred to a third person, public or private.
Proposed law provides that the prescription of nonuse will commence to run 10 years after the
date of execution of the instrument by which the land was acquired, unless a notice of
reinscription is recorded before the prescription of nonuse commences to run.
Proposed law provides that a timely recorded notice of reinscription will continue to interrupt the
running of the prescription of nonuse for a period of 10 years from the date the notice of
reinscription is recorded, and subsequent notices of reinscription recorded prior to the
prescription of nonuse commencing to run shall each continue to interrupt the running of the
prescription of nonuse for a period of 10 years from the date the notice of reinscription is
recorded.
Proposed law requires that each notice of reinscription will include certain information.
Proposed law requires the notice of reinscription to be signed by a current owner of the reserved
mineral right.
Effective August 1, 2014.
(Adds R.S. 31:149(I))