The original instrument and the following digest, which constitutes no part of the
legislative instrument, were prepared by Alan Miller.
DIGEST
SB 242 Original 2019 Regular Session Allain
Proposed law authorizes the State Mineral and Energy Bd. to include in any contract of lease entered
into by the state, any state agency, or any political subdivision after 7/31/19, and in each previously
executed lease entered into that is subsequently assigned, amended, or modified by agreement of the
parties after 7/31/19, a clause which grants a continuing security interest in and to all as-extracted
collateral attributable to, produced, or to be produced, from the leased premises or from lands pooled
or unitized therewith, as security for the prompt and complete payment and performance of the
lessee's obligation to pay royalties or other sums of money that may become due under the lease, as
contemplated by the UCC.
Effective August 1, 2019.
(Adds R.S. 30:127(H))