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The failure to timely pay rental to Alaska for the first and second lease years commencing after the effective date of the transfer of the lease to Alaska does not terminate the lease if the rental payment was made to the United States within the time allowed, and either the payment is transmitted to Alaska by the United States or the lessee makes payment to Alaska within 30 days after receiving written notice demanding the payment.
History: Eff. 9/5/74, Register 51
Authority: AS 38.05.020
AS 38.05.145 (a)
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Last modified 7/05/2006