11 AAC 86.763. Holder defined

(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.

History: Eff. 7/26/91, Register 119

Authority: AS 38.05.212

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