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30 U.S.C. § 192a — Cancellation or modification of contracts
Federal law — U.S. Code and appendices · legal_authorities
Where, under any existing contract entered into pursuant to the first proviso in the second paragraph of [section 192 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title30-section192&num=0&edition=prelim), any refinery is required to pay a premium price for the purchase of Government royalty oil, such refinery may, at its option, by written notice to the Secretary of the Interior, elect either—
(1) to terminate such contract, the termination to take place at the end of the calendar month following the month in which such notice is given; or
(2) to retain such contract with the modifications, that (a) the price, on and after March 1, 1949, shall be as defined in the contract, without premium payments, (b) any credit thereby resulting from past premium payments shall be added to the refinery’s account, and (c) the Secretary may, at his option, elect to terminate the contract as so modified, such termination to take place at the end of the third calendar month following the month in which written notice thereof is given by the Secretary.
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Source file: Laws/federal/codes/united-states-code/title-30/section-192a-cancellation-or-modification-of-contracts--cc61817cfc.md
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Source location: Title 30, Chapter 3A, § 192a; chapter-3a-leases-and-prospecting-permits.md
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Where, under any existing contract entered into pursuant to the first proviso in the second paragraph of [section 192 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title30-section192&num=0&edition=prelim), any refinery is required to pay a premium price for the purchase of Government royalty oil, such refinery may, at its option, by written notice to the Secretary of the Interior, elect either—
(1) to terminate such contract, the termination to take place at the end of the calendar month following the month in which such notice is given; or
(2) to retain such contract with the modifications, that (a) the price, on and after March 1, 1949, shall be as defined in the contract, without premium payments, (b) any credit thereby resulting from past premium payments shall be added to the refinery’s account, and (c) the Secretary may, at his option, elect to terminate the contract as so modified, such termination to take place at the end of the third calendar month following the month in which written notice thereof is given by the Secretary.
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Federal law — U.S. Code and appendices · legal_authorities
All royalty accruing to the United States under any oil or gas lease or permit under this chapter on demand of the Secretary of the Interior shall be paid in oil or gas.
Source: Supplied U.S. Code snapshot — release unconfirmed · 30 U.S.C. § 192
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Federal law — U.S. Code and appendices · legal_authorities
Page 58
TITLE 30—MINERAL LANDS AND MINING
§ 192
Editorial Notes
CODIFICATION
Section was not enacted as part of act Feb. 25, 1920,
ch. 85, 41 Stat. 437, known as the Mineral Leasing Act,
which comprises this chapter.
Statutory Notes and Related Subsidiaries
SIMILAR PROVISIONS
Similar provisions were contained in the following
prior appropriation act:
Pub. L. 103–332, title I, Sept. 30, 1994, 108 Stat. 2508.
§ 192. Payment of royalties in oil or gas; sale of
such oil or gas
All royalty accruing to the United States
under any oil or gas lease or permit under this
chapter on demand of the Secretary of the Inte-
rior shall be paid in oil or gas.
Upon granting any oil or gas lease under this
chapter, and from time to time thereafter dur-
ing said lease, the Secretary of the Interior
shall, except whenever in his judgment it is de-
sirable to retain the same for the use of the
United States, offer for sale for such period as
he may determine, upon notice and advertise-
ment on sealed bids or at public auction, all roy-
alty oil and gas accruing or reserved to the
United States under such lease. Such advertise-
ment and sale shall reserve to the Secretary of
the Interior the right to reject all bids whenever
within his judgment the interest of the United
States demands; and in cases where no satisfac-
tory bid is received or where the accepted bidder
fails to complete the purchase, or where the Sec-
retary of the Interior shall determine that it is
unwise in the public interest to accept the offer
of the highest bidder, the Secretary of the Inte-
rior, within his discretion, may readvertise such
royalty for sale, or sell at private sale at not
less than the market price for such period, or
accept the value thereof from the lessee: Pro-
vided, That i
Source: Supplied 2024 U.S. Code historical extraction · 30 U.S.C. § 192a
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.