If a lease or contract of lands for oil and gas purposes provides in substance that actual drilling or development may be postponed by the payment or tender of the rental on or before a certain day, and the rental is not so paid or tendered, the lessor or landowner may avoid the lease or contract unless before executing a new lease or contract he has accepted payment of the rental.
KRS 353.020
Oil and gas lease or contract, when lessor may avoid
Known as the Natural Gas Acquisition Authority Act
The act spans §§ 353–353 (136 sections).
Applied in 3 court decisions — leading case Walter v. Ashland Oil & Refining Co. (1945)
Most recently applied in Oliver v. Louisville Gas & Electric Co. (June 1987)
Effective: October 1, 1942 History: Recodified 1942 Ky
How often courts cite this section
Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.