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Alaska Administrative Code (Last Updated: January 12, 2017) |
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Title 11. Natural Resources. |
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Part 11.1. Office of the Commissioner. |
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Chapter 11.86. Mining Rights. |
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Article 11.86.1. General Provisions. |
Section 11.86.763. Holder defined.
Latest version.
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(a) As used in 11 AAC 86.760 - 11 AAC 86.796, a "holder" or a "holder of a mining claim, leasehold location, or mining lease" is a person engaged in one or more of the following activities in the state, and includes a person who is temporarily exempt from taxation under AS 43.65.010(a): (1) owning and operating a mining property; (2) owning a mining property and receiving lease or royalty payments based on production from the property; (3) leasing a mining property from another person and operating the property; (4) possessing a mineral interest, whether an economic or a production interest, in a producing property, including royalty, working or operating interests, net profits, overriding royalties, carried interests, and production payments. (b) There may be more than one holder of a mining claim, leasehold location, or mining lease. For example, if the owner of a mining claim leases the mining claim to another person, both the owner and lessee are holders under this section.