TO PROVIDE THAT CONTRACTS TO LEASE OR CONVEY THE FEE SIMPLE TITLE TO OIL, GAS, OR MINERAL RIGHTS SEPARATE FROM THE SURFACE FEE SIMPLE OWNERSHIP ARE AGAINST PUBLIC POLICY, VOID, AND UNENFORCEABLE.
Enacts new Article 4 to GS Chapter 22B to void any contact or lease agreement that conveys oil, gas, or mineral rights for natural gas extraction using hydraulic fracturing. Appropriates $25,000 to the Department of Justice to study the extent and nature of existing contracts that are declared void by the act. Applies to contracts or lease agreements recorded on or after October 1, 2012, and expires October 1, 2015.
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